Share this...

PUBLIC NOTICE OF CHAPTER 7 AUCTION: Full-Service Car Wash/Express Lube Facility

Notice of Chapter 7 Bankruptcy Auction of a Full-Service Car Wash/Express Lube Facility

Chapter 7 Trustee Kimberly Husted announces the September 25th auction of Yujin, LLC, owner of the Real Property. Fixtures and business operating currently as the Sundance Car Wash in Woodland, California are included in the sale. The offering includes the car wash, Havoline Xpress Lube, C-store and detail facility on 1.03 acres. The sale will be conducted online at www.tranzon.com/TAS190925. Below is a summary of the terms of sale:

  1. Tranzon Asset Strategies (“Auctioneer”), as an agent of Kimberly J. Husted, in her sole capacity as Chapter 7 trustee for the bankruptcy estate of Yujin, LLC in Case No. 19-23570 in the United States Bankruptcy Court for the Eastern District of California (“Seller”), is conducting the Auction Sale of the real estate described as Yolo County parcel number 066-040-025, commonly known as 420 Pioneer Avenue, Woodland, CA 95776 (“Property”).  The sale will take place online and bidding will begin closing on September 25, 2019 at 11:00 AM PT.
  2. The Property is subject to a minimum bid of $2,100,000.00.
  3. Bids on the real estate will be accepted only from persons (“Qualified Bidders”) who (i) register with the Auctioneer prior to the Auction at www.tranzon.com/TAS190925 and post a $100,000.00 deposit in the form of a cashier’s check or wire transfer, which the Auctioneer may hold until the completion of bidding and for a reasonable period of time to allow for the release of any such deposit and/or the return of any such funds after the conclusion of the auction.
  4. The sale of the Property will not be contingent upon obtaining financing and will not be extended for that purpose. A Purchaser who fails to qualify for that reason or any other reason will be required to lose and release their entire deposit to Seller as liquidated damages.
  5. All bidders are encouraged to personally inspect the property and documentation relating thereto. The Property is being sold “as-is, where is” with no representations or warranties whatsoever. The sale is not contingent upon inspection and will not be extended for that purpose. Neither Seller nor Auctioneer makes any warranties or representations, either expressed or implied, concerning the Property included in the sale. Neither Seller nor Auctioneer shall be liable for any relief, including damages, rescission, reformation, allowance or adjustment based on the failure of the Property to conform to any standard or expectation. The sale shall be subject to any existing leases and tenancies, and the Seller shall not be obligated to deliver any deposits, pre-paid rent or tenant estoppels certificates.
  6. The sale is subject to acceptance and confirmation of the Seller and approval of the United States Bankruptcy Court at a duly noticed hearing on October 16, 2019, and the high bidder only becomes the purchaser (“Purchaser”) upon said acceptance, confirmation, and approval. The Seller is unconditionally authorized to decline to confirm the sale of the Property and to cancel the sale of the Property to the high bidder.
  7. All sales must close within 30 days. Purchasers who fail to close in a timely manner shall forfeit their deposit(s) as liquidated damages. Seller retains the unilateral right to cancel escrow and retain the deposit in the event Purchase fails to close pursuant to the Purchase Agreement.

For complete terms and property information, visit the website or contact Tranzon Asset Strategies at 888.314.1314.

About The DailyDAC Editors

The editors and editorial board of DailyDAC include preeminent restructuring and insolvency professionals, journalists, and editors. They are devoted to providing reliable and plain English education and deal intelligence about assignments, corporate bankruptcy, receiverships, out-of-court workouts and similar topics.

View all articles by The DailyDAC »

The DailyDAC Editors

​Subscribe to Our FREE Newsletter!

​Get ​weekly updates with the latest bankruptcy articles and opportunistic deals.