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Account Receivable and Shares for Sale
Listing Information
Attachments
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
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
Trustee's Attorney
PO Box 20
Stockton, CA 95201-3020
(209) 948-8200
Bankruptcy Info
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 $148,536.98. (Exhibit 1 to the Purchase Agreement). Mr. Mitchell also informed the Trustee that he assigned the Accounts Receivable pre-petition to Stanislaus Credit Control Services, Inc. (“SCCS”) and that SCCS is entitled to retain between 33 1/3% and 40% of each of the accounts.
Financial Overview
Income and Expenses ($)
months
Revenue/Gross Income:
Total Expenses:
Cash Flow:
Asset and Liability Summary ($)
Receivables:
Inventory:
FF&E:
Real Estate:
Total Assets:
Liabilities to assume: