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Business Interest, Claim and Commissions for Sale

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Business Interest, Claim and Commissions for Sale



Price: $11,000.00


Other Item Info
Item #: utbke_401842
Created: 02/06/2017
Category: Business Property > Financial > Other
Sale Date: None Set
Seller Info
Jeffrey L. Trousdale
Trustee's Attorney
111 E. Broadway, 11th Floor
Salt Lake City, UT 84111
801-363-4300
Bankruptcy Info
Case #: 2:16-bk-27047
Court: Utah Bankruptcy Court
Chapter: 7
View Case Docket

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Description

Sale of Business Interest, Claim and Commissions, described as below:

  • Business Interest: 100% equity ownership interests (the “Equity Interests”) in entities known as Wall Brokers, LLC (“Brokers”) and Wall Builders, LLC (“Builders”);
  • Causes of Action: In addition, to the extent the Debtors or any other parties have acted or may in the future act to divert assets, revenues, commissions, money, or other corporate rights of Brokers or Builders to themselves or to third parties, the Estate may have causes of action against such persons (the “Causes of Action”);
  • Claim: The seller also may claim individual ownership of non-exempt personal property that is used in the businesses of Brokers and Builders (the “Incidental Property”);
  • Commissions: Finally, the seller may have an interest in all rights of the Debtor John Randall Wall to commissions on renewal of insurance products, which rights to commissions were vested on or before the Petition Date, including but not limited to those payable by Bob Brindle Insurance, Inc.; Brindle Insurance Group, Inc.; and any insurance companies or carriers by which John Randall Wall was appointed to sell insurance products (the “Commissions").

Other Information

Terms and Conditions:

See Attached.


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