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.
DailyDAC™ is the 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, and secured parties disposing of their collateral under Article 9 of 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.
PUBLIC NOTICE OF ARTICLE 9 SALE: ONWRD, LLC
PUBLIC NOTICE OF UCC ARTICLE 9 SALE: MODULAR DWELLING COMPANY – UTAH BASED
PUBLIC NOTICE OF UCC SALE: Clean Energy Systems, Inc.
PUBLIC NOTICE OF UCC SALE: 432 FF&E Mezz LLC and FR-AM Two LLC
90 Second Lesson: Selling Collateral in a 363 Sale vs. Article 9 Sale
PUBLIC NOTICE OF UCC SALE: Milber Holding LLC
Please log in again. The login page will open in a new tab. After logging in you can close it and return to this page.