Sale of Assets: On May 16, 2019 ( at 11:00 a.m. (CDT) at the offices of Commercial Recovery Associates, LLC at: 205 W. Wacker Drive, Suite 1818, Chicago, Illinois 60606, Robert P. Handler, not individually, but solely as Trustee/Assignee (the “Seller”) for the Benefit of Creditors of The Roy Houff Company LLC and for the Benefit of Creditors of SJR Enterprises, LLC (collectively the “Company”) intends to sell at a public sale to the highest and best bidder (“Auction”) all of Seller’s right, title and interest in and to certain assets of the Company consisting of commercial delivery vehicles (collectively, the “Sale Assets”). The Sale Assets may be sold in bulk or by lot (the “Sale Lots”).
Stalking Horse Offer and Terms and Conditions of Competing Bids: The Seller has received a written offer (“Purchase Offer”) for the Sale Assets in the amount of $340,000 (the “Initial Bid Price”), subject to the Seller receiving better and higher bids collectively for the Sale Assets. Any party interested in bidding must submit a written offer to purchase the Sale Assets in bulk or by Sale Lot such that it is received by the Seller on or before Noon, 12:00 p.m. (CDT) on May 15, 2019 (“Competing Offer”). The Seller has the right in his discretion to consider Competing Offers from one or more bidders for the Sale Assets or the Sale Lots, provided that such Competing Offers must: (i) in the aggregate, be in an amount equal to or greater than the Initial Bid Price; (ii) be on terms substantially similar to or better than those set forth in the Purchase Offer; (iii) be based upon a closing of the sale on or before May 20, 2019; and (iv) be accompanied by an earnest money deposit in the form of a cashier’s check or wire transfer payable to the Seller in the amount of the Competing Offer. The Auction will be conducted pursuant to bid procedures established by the Seller (the “Bid Procedures”). Such Bid Procedures include bid protection in the amount of $34,000 with respect to the initial overbid; and a break-up fee of $15,000, all as more fully set forth in the Purchase Offer.
The Sale Assets are being sold AS IS, WHERE IS and with no express or implied warranties, representations, statements or conditions of any kind including, but not limited to, warranties of merchantability or fitness for a particular purpose.
For further information, including copies of the Purchase Offer and the Bid Procedures, a more detailed list of the Sale Assets (with mileage and year) and all other terms of sale, or to arrange for an inspection of any of the Sale Assets, you should contact the Seller c/o: email@example.com or at 312-845-5001. All Competing Offers should be addressed to the Seller c/o Commercial Recovery Associates, 205 W. Wacker Drive, Suite 1818, Chicago, Illinois 60606.
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.
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