Date: October 9, 2025
| To: MPI Group, LLC 1525 W 2960 S Nibley, UT 84321 |
From: Healthcare Co. Ltd. 999 Gaonan Road Dingyan, Rugao City Jiangsu Province, China 226521 |
By: Dorsey & Whitney LLP, Steven T. Waterman:111 S. Main St., Ste 2100, Salt Lake City, UT 84111
Events of Default have occurred and are continuing under obligations owed by the Debtor (defined below) to the Secured Party (defined below). The amount owing as of September 30, 2025, is$ 42,600,000.00 in principal, plus interest in the amount of $48,720,394.52, as of September 30, 2025, plus attorneys’ fees and costs.
Name of Debtor: MPI Group, LLC
Debtor’s Addresses: 1525 West 2960 South Nibley, UT 84321
Name of Secured Party: Healthcare Co. Ltd.
Secured Party’s Address: 999 Gaonan Road Dingyan, Rugao City Jiangsu Province, China 226521
| Collateral that is the subject of the intended Public Sale or disposition | All of the right, title, and interests of MPI Group, LLC, including membership or other equity interests, in MPI Delano SPE, LLC, a Delaware limited liability company, a wholly owned subsidiary of MPI Group, LLC (the “Pledged Equity Interests” or “Collateral”). [Debtor has represented that MPI Delano SPE, LLC, is the sole owner of certain real property located at 1700 Schuster Road, Delano, California.] |
Pursuant to Utah Code§ 70A-9a-610 and Cal. U. Com. Code§ 9610, the Collateral will be sold to the highest bidder at a public auction to be held at the offices of Dorsey & Whitney LLP, 111
S. Main St., Salt Lake City, UT 84111, on December 2, 2025, beginning at 10:00 a.m. prevailing Mountain Time, or at the date and time as may be continued and announced at that time.
Neither the Secured Party nor its agent is purporting to sell any interest in any asset that is (i) not owned by the Debtor; or (ii) not subject to a perfected lien in favor of Secured Party. The Collateral secures the repayment of the indebtedness of the Debtor to the Secured Party.
Obligors may be entitled to an accounting of the unpaid indebtedness secured by the Collateral that the Secured Party intends to sell. You may request an accounting by contacting the Secured Party’s representative at Dorsey & Whitney LLP, Steven T. Waterman, at 801-933-7360, or by email at [email protected].
THE COLLATERAL WILL BE ACCEPTED ON AN “AS-IS, WHERE-IS, IF-IS” BASIS, WITHOUT RECOURSE, REPRESENTATION OR WARRANTY (INCLUDING, WITHOUT LIMITATION, WITH RESPECT TO TITLE, POSSESSION, QUIET ENJOYMENT OR THE LIKE), WHETHER EXPRESS OR IMPLIED, OF ANY KIND.
Sincerely,
Healthcare Co. Ltd. By its Attorneys
Dorsey & Whitney LLP
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/Name:Steven T. Waterman Title: Partner
111 S. Main St., Ste 2100 Salt Lake City, UT 84111
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