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PUBLIC NOTICE OF SALE: Big Shoulders Capital and Armstrong Teasdale LLP Announce February 16, 2016 Public Sale Under UCC Article 9 of the Assets of CSI Products, Inc.

By authority granted by CSI Products, Inc., a Missouri corporation (“Debtor”), to Big Shoulders Capital, LLC, an Illinois limited liability company, successor-in-interest to CommunityAmerica Credit Union, a Missouri state chartered credit union (“Secured Party”), pursuant to: (i) that certain Commercial Security Agreement dated March 3, 2011 executed by Debtor in favor of Secured Party (as the same may have been modified and amended from time to time); and (ii) that certain Commercial Security Agreement dated March 3, 2011 executed by Debtor in favor of Secured Party (as the same may have been modified and amended from time to time), the following personal property of Debtor (the “Property”) will be sold at public auction on behalf of Secured Party pursuant to Article 9 of the Missouri Uniform Commercial Code (capitalized terms are defined by the Missouri Uniform Commercial Code):

All Inventory, Chattel Paper, Accounts, Equipment, General Intangibles, and Consumer Goods (the “Collateral”), all proceeds of the Collateral, any equipment purchased with any proceeds of the Collateral, any accessories, attachments, accessions, replacements, and additions to the Collateral, all insurance proceeds and refunds of insurance premiums, and all sums that may be due from third parties who have caused damage to any of the foregoing, whether due to judgment, settlement, or other process.

The sale shall take place on February 16, 2016, at 10:00 a.m., or as soon thereafter as possible, at Armstrong Teasdale LLP, 2345 Grand Boulevard, Suite 1500, Kansas City, Missouri 64108.

Additional information regarding the sale can be obtained from:

Andrew S. Zimmerman
Armstrong Teasdale LLP
7700 Forsyth Boulevard, Suite 1800
St. Louis, Missouri 63105

The terms of the sale are that the highest bidder for the Property must deposit at least 10% of the winning bid with the party conducting the sale at the conclusion of the sale in the form of cash, cashier’s check, or wire transfer payable to Armstrong Teasdale LLP.  The balance of the bid price will be due in the form of cash, cashier’s check or wire transfer by 10:00 a.m. on February 17, 2016, at the offices of Armstrong Teasdale LLP, 2345 Grand Boulevard, Suite 1500, Kansas City, Missouri 64108, (816) 221-3420.  No bill of sale will be delivered until all funds have cleared and are available for use.  The successful bidder shall be solely responsible for the payment of applicable sales taxes, if any.

THERE SHALL BE NO WARRANTY RELATING TO TITLE, POSSESSION, QUIET ENJOYMENT, OR THE LIKE IN THIS DISPOSITION.  TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, ANY CONVEYANCE BY SECURED PARTY SHALL BE MADE WITHOUT REPRESENTATION, COVENANT, OR WARRANTY OF ANY KIND (WHETHER EXPRESS, IMPLIED, OR, TO THE MAXIMUM EXTENT PERMITTED BY APPLICABLE LAW, STATUTORY) BY SECURED PARTY OR ANY PARTY CONDUCTING THE SALE.  AS A MATERIAL PART OF THE CONSIDERATION FOR DELIVERY OF ANY BILL OF SALE, ANY PURCHASER OF THE PROPERTY SHALL AGREE TO ACCEPT THE PROPERTY ON AN “AS IS” AND “WHERE IS” BASIS WITHOUT RECOURSE OF ANY KIND, WITH ALL FAULTS, AND WITHOUT ANY REPRESENTATION OR WARRANTY WHATSOEVER.  ANY PURCHASER SHALL ACKNOWLEDGE THAT SUCH PURCHASER IS A SOPHISTICATED PURCHASER AND IS FAMILIAR WITH THE PROPERTY AND THE SUITABILITY OF THE PROPERTY FOR SUCH PURCHASER’S INTENDED USE.

 

SECURED PARTY: Big Shoulders Capital, LLC
c/o Armstrong Teasdale LLP
Attn: Andrew S. Zimmerman
7700 Forsyth Boulevard, Suite 1800
St. Louis, Missouri 63105

BY: Big Shoulders Capital, LLC

PHONE: (314) 259-4713

 

THIS DEAL WAS ADDED TO THE DAILY DAC OPPORTUNISTIC DEAL DATABASE ON 2/4/16. TO SEE MANY MORE DEALS INVOLVING FINANCIALLY DISTRESSED COMPANIES AND OTHER TIME SENSITIVE SITUATIONS, YOU CAN SUBSCRIBE HERE.

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