DailyDAC
Share this...

PUBLIC NOTICE OF SALE OF COLLATERAL: Adams Arms, LLC

NOTICE OF PUBLIC SALE OF COLLATERAL OF ADAMS ARMS, LLC PURSUANT TO THE FLORIDA UCC

1. Executive Summary.

  1. Pursuant to Chapter 679 of the Florida Statutes (the Florida Uniform Commercial Code), LB Merchant AA-2, LLC and David Nolan as Assignee from GF Ram II LLC, or their subsequent assignees (collectively, the “Lenders”), will conduct a public sale (the “Sale”) of all assets of Adams Arms LLC (“Collateral”) at 11:00 a.m., April 30, 2019, at the business premises of Adams Arms, LLC, 1551 Gunn Highway, Odessa, FL 33556.
  2. The Collateral is located at the business premises of Adams Arms, LLC and will be sold “AS IS” and “WHERE IS” in one lot. The Collateral may (or may not) be subject to superior leases or purchase money financing security interests.
  3. The Sale is being made by reason of default by Adams Arms, LLC (the “Debtor”), under security agreements between the Debtor and Lender, as secured party, and pursuant to the rights of Lender under such security agreements and Chapter 679 of the Florida Uniform Commercial Code.

2. Right of Redemption.

  1. At any time before the sale, all appropriate parties may redeem the collateral in accordance with your rights under Chapter 679 of the Florida Uniform Commercial Code, by tendering payment of all obligations secured by the collateral which will be in excess of $5,173,372 in principal and interest, plus expenses reasonably incurred by the undersigned in retaking, holding, and preparing the collateral for disposition, and in arranging for the sale, and for reasonable attorneys’ fees and legal expenses.
  2. Inquiries and tender of these amounts may be made to the undersigned Lenders’ counsel at the address listed below or to Moecker Auctions, Inc., c/o Robin Williams at rwilliams@moeckerauctions.com or 954-252-1560. The Debtor is entitled to an accounting of the unpaid indebtedness and may contact the undersigned Lender’s counsel at the address, email or phone number listed below.

3. Terms of Sale.

  1. The successful bidder must pay in cash or cashier’s check 10% of the Collateral purchase price immediately upon conclusion of the Sale which shall be nonrefundable.
  2. The successful bidder must remit the balance due in cash or cashier’s check within 5 days following the sale.
  3. Lenders may credit bid all or a portion of the indebtedness due it by the Debtor.

4. Additional Information.

For additional information contact:

  • Noel R. Boeke
    Florida Bar No: 151830
    HOLLAND & KNIGHT LLP
    100 North Tampa Street, Suite 4100 (33602)
    P.O. Box 1288
    Tampa, FL 33601-1288
    (813) 227-8500
    (813) 229-0134 facsimile
    Attorneys for Secured Lenders LB Merchant AA-2, LLC and David Nolan,
    as Assignee of GF Ram II LLC

5. About Moecker Auctions, Inc. Moecker Auctions is licensed, bonded, & fully insured and maintains a staff of experienced personnel to administer and facilitate its operations. With combined experience of over 40 years in auctions and appraisals, Moecker Auctions offers a unique approach to auctions, appraisals and liquidations.

6. About Holland & Knight. Holland & Knight is a global law firm with more than 1,300 lawyers and other professionals in 28 offices throughout the world. Our lawyers provide representation in litigation, business, real estate and governmental law. Interdisciplinary practice groups and industry-based teams provide clients with access to attorneys throughout the firm, regardless of location.

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
>
close

​Stay Update​d ​With Our Weekly​ Newsletter

​Our weekly newsletter, sent every Tuesday at 9am, includes:

  • check
    ​​Most recent Premium Public Notices
  • check
    ​All deals added to our proprietary database in the past week
  • check
    ​​The latest bankruptcy articles and related content