Search Results for: "Credit bid"
Sellers and buyers must know the key elements of selling a distressed business outside of bankruptcy. Levels of protection vary on both sides.
NOTICE OF AUCTION OF FROZEN FOOD ON JANUARY 6TH Executive Summary. There is due as of November 25, 2022, charges and related fees and expenses totaling no less than $116,278.60 (together with any additional fees and expenses accruing thereafter, the “Lien Amount”) on the goods (“Goods”) held by NF Solutions, LLC as warehouseman (“Warehouseman”) under that certain Storage and Direct-To-Consumer Fulfillment Service Agreement dated September 14, 2020, between Warehouseman and The Very Good Food Company (“Bailor”). Auction Date. Warehouseman intends to sell the Goods at public auction (“Auction”) on January 6, 2022, at 9:00 am CT (“Auction Date”) at the office of Much Shelist P.C., 191 N Upper Wacker Dr STE 1800, Chicago, IL 60606 to satisfy the Lien Amount. Accommodation for attending the Auction virtually may be made for prospective bidders who so request. The Goods. The Goods consist of cases of frozen food as described and, in the […]
“Something that is supposedly undoubtedly equal in value to what is taken away. A “catch all” form of adequate protection under the Code requiring that a debtor provide a creditor with something having a value that is the “indubitable equivalent” of the amount of diminution in value of the creditor’s collateral resulting from its use in the bankruptcy case. It is also one means of providing “fair and equitable” treatment to a secured creditor under a Chapter 11 plan, i.e., by providing the creditor with the “indubitable equivalent” of its […]
Will lenders loan to a company in bankruptcy? In this installment, uncover the many intricacies of DIP financing & cash collateral motions in bankruptcy.
Brent Ullman Group, LLC, the secured creditor, will sell the pledged assets of Cross Borders, LLC by auction on November 22, 2022 at 9am CT.
A UCC sale will be held for the assets of NXT Communications Corporation on November 18, 2022 at 10am PT at the offices of Perkins Coie LLP.
“A sale under Section 363 that takes advantage of the provisions of Section 363(f) allowing the property to be sold “free and clear of any interest in such property” under specified conditions including, most importantly, in the case of a lien, when “the price at which such property is to be sold is greater than the aggregate value of all liens on such property.” Any liens then attach to the proceeds of the sale. There is controversy over whether the Code requires that the sale price be for the entire […]
A UCC sale will be held on October 13, 2022 at 12pm CT for all of the rights of Custom Alloy Corporation and related companies.
A UCC Sale will be held for the assets of Illini Hi-Reach, Inc. and Illini-Wisc, Inc on September 30, 2022 at 10am CT.
The assets of Lydda LUD, LLC will be sold on September 12th, 2022 at 8:30am PT