DailyDAC
Share this...
  • Home »
  • Public Notices »

PUBLIC NOTICE OF SALE: Howard B. Samuels, as Assignee, to Sell Assets of North Shore Metals, Inc. on 3/25/16

Assignee’s Return of Bids Sale
NORTH SHORE METALS, INC.
1121-L LAKE COOK RD.
DEERFIELD, IL 60015

 

SALE OF ASSETS:  On March 25, 2016 Howard B. Samuels, not individually, but solely as Assignee for the Benefit of Creditors (the “Assignee”) of North Shore Metals., Inc. (“North Shore”), intends to sell his right, title and interest in and to certain assets (the “Assets”) as more fully described below.  The Assets sold or to be sold will be offered as a single lot.  The Assets to be sold include the office furniture and computer equipment, the intangible Assets, including but not limited to all customer and supply records and mailing lists relating to North Shore Metals, Inc.; the right to the name “North Shore Metals, Inc.” and all derivative names; Company’s telephone and fax numbers and listings; all software; all rights and interests in all intellectual property including without limitation copyrights, trademarks (common and registered), trade names, service marks, service names, licenses, patents, applications with respect to the foregoing, permits, websites and other intellectual property with respect to Company’s website(s), if any, domain names, email addresses, proprietary information, technical information and data, and other similar intangible property rights and interests; all possible causes of action, contingent and unliquidated claims, including but not limited to claims against insurance companies, counterclaims and rights to set off claims; all  advertising and catalog materials with corresponding mailing list or lists; and any and all other lists, information and records of Company with respect to its personnel (subject to compliance by Buyer with any confidentiality and privacy laws and regulations), its customers, the operation of its equipment, its suppliers and vendors and all other providers of goods and services used in or associated with the operation of Company, including without limitation, lists of customers and payment histories, each in whatever format it is currently held by Company or Assignee; all records including all of the Company’s marketing records, customer lists, mailing lists, warranty records, sales literature and other sales aids, catalogs, employee records, accounting records, graphic materials, pricing and information materials, designs and marks and other documents and records to the extent not listed above; and all other intangible and tangible property of every kind and nature (collectively, the “Assets”).  North Shore Metals was established in 1994 as a buyer and seller of steel, scrap metal and other metals.

TERMS & CONDITIONS:  An Assignee’s Return of Bids Sale (the “Sale”) for all assets of North Shore will take place on March 25, 2016 at 2:00 p.m. at the offices of Rally Capital Services, LLC, 350 N. LaSalle St., Suite 1100, Chicago, IL.  The Assignee has received an offer for the purchase of the Assets from a third party purchaser for the approximate cash purchase price of Thirty-Nine Thousand Thirteen Dollars ($39,013) (the “North Shore Stalking Horse Bidder”). The Assets will be sold “AS IS, WHERE IS” with all faults and without any express or implied representations or warranties whatsoever, including, without limitation, warranties of merchantability, quiet enjoyment or fitness for a particular purpose or as to the title, value or quality of the Assets.  The Assignee reserves the right, on or prior to the Date of Sale, to modify, waive or amend any terms or conditions of the Sale or impose any other terms or conditions on the Sale, and, if the Assignee deems appropriate, to reject any bids or continue the Sale (whether for all of the Assets or separate lots) without prior notice.

To be a qualified purchaser, a party must post a cash deposit (the “Deposit”) in the form of a cashier’s check, certified check or wire transfer in the amount of Ten Thousand Dollars ($10,000), made payable to and delivered to the Assignee one day prior to the Sale.  All bidding for the Assets shall be conducted in the same room with the identity and bid terms of all bidders fully disclosed and on the record as recorded by a court reporter.  Any subsequent overbids for the Assets will be determined by the Assignee at the Auction; provided, however, the Assignee reserves the right to change the minimum bid from time to time during the Sale.  At the conclusion of the Asset sale, the Assignee shall declare on the record which bid has been declared the highest and best bid and accepted, for the Assets and shall recite the terms of the winning bid into the record with the concurrence of the prevailing bidder.  The balance of the purchase price for the Assets must be paid to the Assignee in available funds within twenty-four (24) hours.  If the successful bidder fails to pay the balance of his or her successful bid for the Assets, then its Deposit will be forfeited and the Assets may, at the Assignee’s option, be sold to the next highest bidder without prejudice to or waiver of the Assignee’s rights and remedies against the defaulting highest bidder.  The Assignee reserves the right to adjourn the Sale from time to time without further notice except as announced at the auction.  The Assignee further reserves the right to determine the qualifications of any bidder, including the ability to close the transaction on the terms and conditions referenced herein.

The Assets sold or to be sold are being sold as a single lot “As Is” and “Where Is” and with no express or implied warranties, representation, statements or conditions of any kind including but not limited to warranties of merchantability or fitness for a particular purpose and are to be sold in accordance with the terms and provisions set forth above.

For more information or to arrange for an inspection of the Assets, please contact the Assignee.

 

Assignee:

Howard B. Samuels • David N. Missner
Jeffrey D. Samuels
Rally Capital Services, LLC
350 N. LaSalle St., Suite 1100
Chicago, IL 60654
(312)645-1975
[email protected]

 

THIS DEAL WAS ADDED TO THE DAILY DAC OPPORTUNISTIC DEAL DATABASE ON 3/10/16. TO SEE MANY MORE DEALS INVOLVING FINANCIALLY DISTRESSED COMPANIES AND OTHER TIME SENSITIVE SITUATIONS, YOU CAN SUBSCRIBE HERE.

About DailyDAC

DailyDAC™ is the internet's oldest, most trusted, and most widely used provider of public notices of asset sales and case commencements, and other important notices involving companies in financial distress in the United States and Canada. DailyDAC™ public notices are used by bankruptcy trustees, chapter 11 debtors in possession, federal and state court receivers, assignees for the benefit of creditors, auctioneers, and secured parties disposing of their collateral under the Uniform Commercial Code or other state law trust (and their respective auction firms, law firms, and other agents). Learn more.

Many sales of distressed companies and distressed business assets are not widely advertised. If you are buyer of such companies or assets, you may be well served by becoming a paying subscriber to Distressed Deal Data™. Find out more.

The DailyDAC Editors
>