PUBLIC NOTICE OF UCC ARTICLE 9 AUCTION: The Credit Junction Holdings, Inc.

Notice of UCC Article 9 Foreclosure Auction of Commercial Loans & Intellectual Property

PLEASE TAKE NOTICE that on September 10, 2019, at 11:00 a.m., New York City, New York time, at the offices of Holland & Knight LLP, 31 West 52nd Street, 12th Floor, New York, NY 10019, a public sale shall be conducted of the personal and fixture property, whether previously, now or hereafter, constituting the items generally described below, and more specifically described in a public foreclosure sale notice transmitted to the Debtors (collectively, the “Collateral”), of THE CREDIT JUNCTION HOLDINGS, INC. (“Parent”), TCJ II, LLC (“Borrower”) and TCJ I, LLC (“TCJ I” and, together with Borrower and Parent, each individually, a “Debtor” and collectively, the “Debtors”).

This sale is being held to enforce the rights of MIDCAP FINANCIAL TRUST, as first and second lien agent for itself and certain other first and second lien lenders (“Secured Party”) to the Debtors.

The Collateral will be sold to the highest qualified bidder for cash, or the credit against outstanding indebtedness held by the Secured Party or for which the Secured Party is entitled by contract or applicable law to bid. Please be advised that Secured Party, and any assignees of the Secured Party, reserve their right to credit bid, and may credit bid, at the public sale of the Collateral.

There will be no warranty made or provided relating to title, possession, quiet enjoyment or the like in connection with the disposition.

To be a qualified bidder, a prospective bidder must contact counsel for the Secured Party at [email protected] or (214) 964-9481 on or before 5:00 p.m. (New York City time) on September 9, 2019, providing current contact information and such adequate assurances of bidder’s ability to perform as the Secured Party may reasonably request. The highest qualified bidder will be required to deposit the full amount of the bid price in escrow with Holland & Knight LLP by way of a bank wire that is received by Holland & Knight LLP, no later than September 10, 2019, at 5:00 p.m., New York City time. Interested parties who would like additional information should contact Brent R. McIlwain, counsel for the Secured Party.

General Description of Collateral

TCJ II, LLC:

• A pool of up to twenty performing and non-performing commercial loans with a purported outstanding principal balance of approximately $37,000,000 purported to be secured by some or all of the assets of the applicable borrowers.  The loans were purported to have been made to borrowers headquartered in a variety of states, including California, New York, Florida, Virginia, Texas, Michigan, Missouri, South Carolina, Pennsylvania and Montana.  A brief summary of the information provided to us by TCJ II, LLC with respect to the loans is available via link from this notice (though no representation is made as to its accuracy) and additional information is available upon request and the entry into an acceptable non-disclosure agreement.
  TCJ II LLC – Loan Pool Summary (Updated 8-26-2019).pdf
• A film and media library relating to programs and episodes across various genres such as educational and informational and crime and thriller, related intellectual property, rights under license and distribution rights and other production material. This library was collateral for a non-performing loan owned by TCJ II, LLC and was purportedly recently foreclosed upon by TCJ II, LLC. Additional information is available upon request and the entry into an acceptable non-disclosure agreement

TCJ I, LLC:

• A pool of up to five non-performing commercial loans with a purported outstanding principal balance of approximately $3,600,000 purported to be secured by some or all of the assets of the applicable borrowers.  Additional information is available upon request and the entry into an acceptable non-disclosure agreement.

The Credit Junction Holdings, Inc.:

• All intellectual property rights of The Credit Junction Holdings, Inc., including, without limitation all software developed and owned by The Credit Junction Holdings, Inc., the rights to two U.S. trademarks and the rights to certain internet domain names.
  1. The software developed and owned by The Credit Junction Holdings, Inc., including their servicing and origination platform software.
  2. The rights to the following trademarks:
     

     Trademark	Country	Serial Number	Reg. No.	Reg. Date
     THE CREDIT JUNCTION	United States of America	86232757	4691081	February 24, 2015
     CREDIT JUNCTION	United States of America	86232733	4691080	February 24, 2015

  3. The rights to the following domain names:
     

     amerigo.io amerigodata.com amerigodata.io amerigodata.net amerigodata.org borrowerdata.com borrowerdata.io borrowerdata.net

     borrowerdata.org lenderdata.io lenderdata.org thebetajunction.com thefuturejunction.com tcjlocal.com tcjlocal.io

     thedatajunction.com thedatajunction.io thefeaturejunction.com thegeeksjunction.com thenerdsjunction.com theotherjunction.com thecreditjunction.com

  4. All trade secrets, supplier lists, customer lists, contact lists, prospect lists, assignable licenses and permits, processes, know-how, show-how, files and other records, assignable telephone numbers, copyrights and copyrightable material, e-mail addresses, technical information and proprietary information.
  5. All assignable software licenses from third party vendors.
  6. All computers, communications devices, electronic systems or media.
  7. All other furniture and equipment owned by The Credit Junction Holdings, Inc.

Auctioneer and Buyer’s Premium: Maltz Auctions, Inc.is exclusively acting as Secured Party’s marketing agent and auctioneer, and the auction sale will be conducted by one or more of the licensed auctioneers from Maltz Auctions listed below (the “Auctioneer”). A four percent (4%) Buyer’s Premium will be added to the successful bidder’s high bid to determine the contract price to be paid by the successful bidder.

Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022  Fax (516) 349-0105

Terms of the Sale: These assets are being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the asset is made by the Seller, Auctioneer, or any of their Agents.

View the Public Notice PDF