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Customer Relationships and Equipment of Gasoline Supplying Business
Listing Information
Attachments
Customer Relationships and Equipment of Gasoline Supplying Business
Price: $175,000.00
Other Item Info
Item #: ncmbke_198886
Created: 06/29/2017
Category: Business Property > All Assets or Going Concerns > General Retailers
Sale Date: None Set
Created: 06/29/2017
Category: Business Property > All Assets or Going Concerns > General Retailers
Sale Date: None Set
Seller Info
John Paul H. Cournoyer
Trustee's Attorney
Post Office Box 2208
Chapel Hill, NC 27515
919-968-4441
Trustee's Attorney
Post Office Box 2208
Chapel Hill, NC 27515
919-968-4441
Bankruptcy Info
Case #: 6:16-bk-50216
Case Title: Tar Heel Oil II, Inc.
Court: North Carolina Middle Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: Tar Heel Oil II, Inc.
Court: North Carolina Middle Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of Substantially all of the Customer Relationships and Equipment of Tar Heel Oil II, Inc.. The Company is in the business of supplying gasoline to numerous gas stations and convenience stores. The Company owns personal property at many of these gas stations and convenience stores, including but not limited to underground storage tanks, dispenser equipment, canopies, cash registers, and other personal property associated with the sale of petroleum products. The Sale Assets are described as below:
- all of the Sellers’ customer relationships and goodwill, as well as any and all rights to the supply contracts
- all EMV equipment owned by Sellers and believed to be stored in the Sellers’ former offices in North Wilkesboro, NC
- The Assets also include various customers the personal property located at each respective customer’s location, including but not limited to underground storage tanks, dispenser equipment, canopies, cash registers, and other personal property associated with the sale of petroleum products
Financial Overview
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Additional Details
If 100% of the Debtors customers entered into long-term supply contracts, the Purchaser would pay the bankruptcy estates $398,527 and the dealers would pay the bankruptcy estates $173,000.