Search Results for: "Credit bid"
NOTICE OF DISPOSITION OF COLLATERAL AT PUBLIC SALE- BID DEADLINE DECEMBER 4TH Equity Trust Corporation f/b/o Jeffrey M. Wagner IRA (collectively, the “Secured Party”) is the secured party with respect to certain indebtedness owed by Windwrap, LLC (“Debtor”), whose principal place of business is 6943 N. Minnetonka Avenue, Chicago, IL 60646 Debtor’s indebtedness was incurred pursuant to the terms of those certain Promissory Notes dated April 5, 2013 and Security Agreements dated April 5, 2013 (collectively, the “Loan Documents”). Debtor’s obligations under the Loan Documents are secured by the following (collectively, the “Collateral”). All of the personal property of the Debtor, including any right or interest, and the proceeds, insurance proceeds and products thereof, together with all cash, bank accounts, special collateral accounts, books, records, customer lists, credit files, computer files, programs, printouts and other computer records, related thereto; account, chattel paper, documents, equipment, general intangibles, instruments, inventory, pledged deposits […]
Auction Advisors to auction the Intellectual Property, Inventory & Other Assets of Innovative Luggage Manufacturer “Travel Light” d/b/a “G-RO” in an ABC. In RE: Assignment for the Benefit of Creditors of Travel Light, Inc. in the Court of Chancery for the State of Delaware, commencing case number 2020-0429-PAF. Qualifying Bids and Deposits Due November 4, 2020 @ 1PM; Auction to be held November 5, 2020. Background: Travel Light was a designer, manufacturer and distributor of unique luggage and other travel accessories operating primarily under the brand name G-RO. The company had a celebrity following and served many of the fastest growing national retailers and brands. It peaked at sales of almost $5M when it implemented a successful Kickstarter campaign. See: https://www.kickstarter.com/discover/advanced?ref=nav_search&term=g-ro. Opportunity Overview: On June 3, 2020, Travel Light assigned all of its assets of every kind and nature whatsoever to a court approved Assignee in an Assignment for the […]
TRUSTEE/ASSIGNEE AUCTION OF THE ASSETS OF M-WAVE INTERNATIONAL, LLC AND M-WAVE MUSIC PRODUCTS, LLC Sale of Property: On October 23, 2020 at 10:00 a.m. at the offices of Commercial Recovery Associates, LLC, located at 205 West Wacker Drive, Suite 918, Chicago, IL 60606, Robert Handler (the “Trustee/Assignee”), not in his individual capacity but solely as the Trustee/Assignee for the Benefit of Creditors of M-Wave International, LLC (“M-Wave”) and M-Wave Music Products, LLC (“Music”) (together, the “Companies”), anticipates conducting an auction sale (the “Auction”) of the Companies’ tangible and intangible assets, consisting primarily of inventory, accounts receivable, property plant and equipment, office furniture and equipment, customer information and marketing materials and brochures (“Sale Assets”), a list of which the Trustee/Assignee will make available to potential bidders. Stalking Horse Offer: The Trustee/Assignee and a prospective purchaser (the “Initial Bidder”) have entered into an Asset Purchase Agreement for the Sale Assets (the “APA”), […]
American Heritage Billiards, a leading seller and distributor of billiard tables, is selling off inventory and IP in a receivership sale on October 14, 2020.
How Can Special Committees Influence Your Bankruptcy? The appointment of independent directors may benefit a financially distressed business throughout its restructuring process, including during a bankruptcy case. An outside voice can guide a company through the process while fending off claims of conflict of interest by the court. What is an Independent or Non-Executive Director? An independent director can be conceived of as having no direct or indirect connection to the business, including not being an employee, owner, or other insider of the business, and not deriving any income from […]
How Unique Issues in Healthcare Restructuring Set It Apart from Corporate Restructuring Over the past decade, arguably no industry experienced such dramatic regulatory change or consistent legislative uncertainty as healthcare. Today, continued efforts to repeal, defund, replace, or amend the Affordable Care Act—coupled with rising pharmaceutical costs, increased competition, massive capital investment expenses, etc.—virtually assure a challenging economic environment for healthcare companies for years to come. However, given the stakes involved—and the unfortunate fact that healthcare restructuring provides little time for “on the job training”—practitioners must enter such engagements […]
NOTICE OF UCC COLLATERAL SALE The undersigned, ADVANTAGEOUS EQUITIES, L.L.C. (the “Seller”) has been engaged as special agent on behalf of PENDER EAST CREDIT 1 REIT, L.L.C. (the “Lender”), with respect to Lender’s rights and interests in various items of tangible personal property as described in paragraph “(f)” on pages 4 and 5 of a Deed of Trust, Security Agreement and Fixture Filing (the “Security Agreement”) from VERY FINE MOTELS, INC., a Nebraska corporation, dated December 27, 2018, and recorded on January 2, 2019, as Instrument No. 20190102000000720, Deed Book 3215, Page 443, among the land records of Hanover County, Virginia, with the security interest therein created having been perfected by the filing of a UCC Financing Statement on January 10, 2019, as Instrument No. 1901000780-6 in the office of the Nebraska Secretary of State. At the instruction of the secured lender, default having occurred in the obligations secured by […]
The Complexity of Student Loan Debt in Bankruptcy… Demystified Student loan debt has hit a record $1.6 trillion. This number is staggering on its own, but as millions of Americans lose their jobs and source of income during the COVID-19 pandemic, student loan borrowers have to look at their options for repayment. The U.S. government is allowing borrowers to suspend all federal loan principal and interest payments until September 30, 2020, but this still leaves many private loan borrowers at the hands of their lenders. For those experiencing extreme financial […]
NOTICE OF PUBLIC SALE UNDER UCC 1. WUNDER CAPITAL V, LLC (“Secured Party”), to enforce its rights against CLEANLIGHT POWER+ENERGY, MT. LAUREL, LLC, a Delaware limited liability company (“Borrower”), will offer for sale at public auction its Collateral, as that term is defined below. 2. The public auction will take place on July 31, 2020, at 10:00 a.m. (New York City time). 3. The Collateral is defined as and includes the property set forth below: All property and assets of the Borrower, whether currently owned or hereafter acquired by Borrower, wherever located, of every kind and description, tangible or intangible, and all proceeds thereof, including: all goods (including inventory, equipment and accessions thereto), instruments (including promissory notes), documents, accounts and accounts receivable, other receivables, chattel paper (whether tangible or electronic), deposit accounts, letter-of-credit rights (whether or not evidenced by a writing), documents of title, policies, certificates of insurance, commercial tort […]
NOTICE OF PUBLIC SALE BY ASSIGNEE FOR THE BENEFIT OF CREDITORS OF ARLINGTON PLATING COMPANY SALE OF ASSETS: Notice is hereby given that on Tuesday, June 23, 2020 at 2:00 pm, CST (the “Date of Sale”), at the offices of Rally Capital Services, LLC, 350 North LaSalle St, Suite 1100, Chicago, IL 60654, Howard B. Samuels, not individually, but solely as Assignee for the Benefit of Creditors (the “Assignee”) of Arlington Plating Company (“Company”), shall hold a public auction (“Auction”) in accordance with applicable Illinois law (the “Sale”) to offer for sale (i) substantially all assets used in connection with the operation of the Company’s business of providing anodizing finishes on aluminum, magnesium, steel and stainless steel, as well as copper alloys and zinc die cast surfaces (the “Business”) and (ii) the interest of Chicago Title Trust No. 8002383358 in and to the real property, land, improvements, fixtures (the “Real […]