PUBLIC NOTICE OF SECURED PARTY SALE: Sand Shack, LLC

NOTICE OF PUBLIC SALE
(NOTIFICATION OF DISPOSITION OF COLLATERAL)

NOTICE IS HEREBY GIVEN THAT, pursuant to Section 9-610 of the Uniform Commercial Code as adopted in the State of New York and any other applicable jurisdictions, and any other applicable law, Hilldun Corporation (the “Secured Party”) will offer for sale to the public, by public auction (the “Auction”), substantially all of the assets (excluding equipment, inventory, and property leased from third parties) of SAND SHACK LLC, a Delaware limited liability company (the “Debtor”), including, without limitation, the Debtor’s right, title, and interest in and to all accounts, intellectual property (including, without limitation, designs, logos, trademarks, trade names, internet domain names, email accounts, social media accounts, and customer lists), general intangibles, instruments, documents, contract rights, and chattel paper (collectively, the “Assets“).

The Debtor has granted a security interest in all of the Assets to the Secured Party to secure Debtor’s obligations to the Secured Party.  The Assets are being sold on an “AS IS, WHERE IS” basis pursuant to the terms and conditions set forth below.  The Debtor owns and operates a sustainable apparel and accessories business, sometimes under the trade name “United By Blue,” in Philadelphia, Pennsylvania and one or more other locations.  Most of the Debtor’s tangible personal property (other than warehoused inventory) is located at the Debtor’s premises at 444 N. 3rd Street, Philadelphia, PA 19123.

TIME/LOCATION OF THE AUCTION

Date and Time:

April 19, 2023 commencing at 10:00 a.m. New York (Eastern Daylight) Time

Place:

Lowenstein Sandler LLP
1251 Avenue of the Americas
New York, New York 10020

Persons who wish to attend the Auction in person must call or email Michael A. Buxbaum, Esq. (the “Administrative Liaison”) not later than 3:00 p.m. New York (Eastern Daylight) Time on the day before the sale date in order to be granted security clearance to enter the building in which the Auction will be conducted.  Persons who wish to attend the Auction remotely by Zoom meeting must request an invitation  by email (and not by telephone or any other means) addressed to the Administrative Liaison not later than 3:00 p.m. New York (Eastern Daylight) Time on the day before the date of the Auction, whereupon an invitation to the Zoom meeting will be issued by return email to the email address from which the request was sent.

See the Administrative Liaison’s contact information at the end of this notice in order to arrange attendance at the Auction in person or by Zoom meeting.

TERMS AND CONDITIONS OF THE AUCTION

The Assets may be offered in one or more lots.   The Assets will be offered and sold to the bidder with the highest or otherwise best bid for the Assets determined by the Secured Party at the Auction.  Each potential bidder may be required to demonstrate, to the satisfaction of the Secured Party, at any time prior to the commencement of the Auction, that such bidder has the financial means to close on any bid made at the Auction.  The Secured Party reserves the right to cancel, postpone or adjourn the Auction by announcement made at the Auction, either before or after the commencement of bidding, without written notice or further publication.  In addition, the Secured Party reserves the right to bid for and purchase the Assets and to credit the purchase price against the expenses of sale and principal, interest, fees, and any and all other amounts due and payable to the Secured Party pursuant to the terms of the agreements governing any and all indebtedness secured by the Secured Party’s security interests in the Assets.   The Secured Party reserves the right to implement such other terms and conditions at the Auction as the Secured Party, in its sole discretion, determines to be commercially reasonable under the circumstances.  Upon request delivered to the Administrative Liaison at least three days prior to the date of the Auction, the Secured Party will request the Debtor to supply a list of the Assets and, upon receipt, the Administrative Liaison will forward the Debtor’s response to the person or entity making the request.

The Debtor shall be entitled, for a charge of $500, to an accounting of the unpaid indebtedness secured by the Assets that the Secured Party intends to sell and may contact the Administrative Liaison to request such accounting.

REQUESTS FOR FURTHER INFORMATION (ADMINISTRATIVE LIAISON CONTACT INFO)

For further information regarding the Assets or the Auction, please contact the Administrative Liaison (Michael A. Buxbaum, Esq.) at Lowenstein Sandler LLP, 1251 Avenue of the Americas, New York, New York (telephone: 646.414.6820; email: [email protected]).