Equity Interests in Finance Company
Listing Information
Equity Interests in Finance Company
Price: $500,000.00
Created: 03/27/2020
Category: Business Property > Investments > Partnership interests/ LLC/LLP
Sale Location: Wantagh, New York
Sale Date: Fri. Apr 17, 2020
Trustee's Attorney
Suite 201
Wantagh, NY 11793
516-826-6500
Case Title: Big Apple Energy, LLC
Court: New York Eastern Bankruptcy Court
Chapter: 7
View Case Docket
Description
Sale of 100% of the equity interests in and to Vantage Commodities Financial Services, LLC (“Vantage”) owned by Big Apple and Clear Choice (the “Sellers Equity Interest”), 50% of which are owned by Big Apple and 50% of which are owned by Clear Choice.
Vantage is a specialty finance company that provides cost effective and flexible financing solutions to primarily the retail energy / Energy Service Companies (“ESCOS”) industry. Vantage provides financing solutions in the form of senior secured revolving credit facilities and term loans. Products include working capital financing solutions for a) receivables (billed and unbilled), b) ISO deposits, c) third party deposits (e.g. suppliers, utilities, PUCs, etc.), d) energy supply and e) natural gas related accounts (e.g. pipeline deposits, natural gas inventory, etc.).
Financial Overview
Sale Location
Wantagh, NY, 11793
Additional Details
- Auction Time: 11:00 a.m.
- Sale Hearing Held on April 21, 2020 at 10:30 a.m.
- Bid Amount: $525,000
- Bid Increment: $25,000
- Bid Deposit: 15% of the proposed higher purchase price
- Last date to respond: April 14, 2020