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Account Receivable and Shares for Sale

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Account Receivable and Shares for Sale



Minimum Price: $18,000.00


Other Item Info
Item #: caebke_552356
Created: 12/19/2014
Category: Business Property > Financial > Accounts Receivable
Sale Location: Modesto, California
Sale Date: Thu. Jan 15, 2015
Seller Info
Clifford W. Stevens
Trustee's Attorney
PO Box 20
Stockton, CA 95201-3020
(209) 948-8200
Bankruptcy Info
Case #: 9:14-bk-91002
Court: California Eastern Bankruptcy Court
Chapter: 7
View Case Docket

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Description

Sale of interest in accounts receivables generated by Scott Mitchell Law Offices, a sole proprietorship prior to January 2014; and (2) the shares in Scott Mitchell Law Corporation.

The value of the Accounts Receivable at $100,000. Mr. Mitchell provided the trustee with an inventory of the Accounts Receivable dated August 4, 2014, which showed a total of 157 accounts, all of which are over a year old, with a collective balance due of $148,536.98. (Exhibit 1 to the Purchase Agreement). Mr. Mitchell also informed the Trustee that he assigned the Accounts Receivable pre-petition to Stanislaus Credit Control Services, Inc. (“SCCS”) and that SCCS is entitled to retain between 33 1/3% and 40% of each of the accounts.


Sale Location

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1201 I Street, Suite 4
Modesto, CA,

Additional Details

Sale Time: 10:30 AM



Other Information

Terms and Conditions:

See attached.


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