Pursuant to Section 5/9-610 of the Illinois Uniform Commercial Code (ILCS 5/9 § 9-610), and pursuant to a Promissory Note and Security Agreement dated as of October 13, 2015 (as subsequently amended, modified, and supplemented, the “Security Agreement”) among Nu-World Amaranth, Inc. (the “Borrower”) and Steve Sarowitz (the “Lender”), the Lender will sell its interest in substantially all of the Borrower’s personal assets (the “Assets”) listed in Section 2 of the Security Agreement between the Lender and the Borrower, as the debtor, at a public sale to be held on May 1, 2018.
The Assets consist of all of the Borrower’s Accounts, Chattel Paper, Commercial Tort Claims, Deposit Accounts, Documents, Equipment, Farm Products, Fixtures, General Intangibles, Goods, Instruments, Inventory, Investment Property, Letters of Credit, Letter-of-Credit Rights, Pledged Deposits, Supporting Obligations, and other Collateral, wherever located, together with proceeds thereof. Neither Lender nor the Borrower is purporting to sell any interest in any asset that is (i) not owned by the Borrower; or (ii) not subject to a first-priority lien in favor of the Lender. The Assets secure the repayment of the indebtedness of the Borrower to the Lender under the Promissory Note in the amount of $10,141,006.00 as of March 16, 2018.
Subject to all the terms of this Notice, the Assets will be sold to the highest bidder at public auction. The auction shall take place May 1, 2018, at 11:00 A.M. CDT, at the offices of Sugar Felsenthal Grais & Helsinger LLP, 30 N. LaSalle Street, Suite 3000, Chicago, Illinois.
Persons wishing to inspect the loan documents or the collateral may call or write Christopher J. Horvay, attorney for the Lender, at Sugar Felsenthal Grais & Helsinger LLP, 30 N. LaSalle Street, Suite 3000, Chicago, Illinois, 60602 (312) 704-9400.
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 an similar topics.
PUBLIC NOTICE: Sale of Judgments
PUBLIC NOTICE: Sale of Single Family Home in Chicago
PUBLIC NOTICE OF UCC SALE: USRealty.com
PUBLIC NOTICE OF 363 SALE: Industrial Property, Bensenville, IL
PUBLIC NOTICE OF CHAPTER 7 AUCTION: World of Good Tastes, Inc.
DEAL DONE! Keen-Summit Capital Partners LLC Sells Former College Campus at Auction
Please log in again. The login page will open in a new window. After logging in you can close it and return to this page.
Our weekly newsletter, sent every Tuesday at 9am, includes: