Liquor License in New Jersey

The Trustee has received a bid of $120,000 for sale of the Liquor License from Anthony Pessolano, or his corporate designee, (“Buyer”) and Buyer has provided the Trustee with a $30,000 deposit currently being bid in Willner’s trust account. 

There is a 10% buyer’s premium to the auctioneer, so the estate will net $108,000 from this sale. The sale of the Liquor License by the Trustee is without representations, warranties and has no contingencies. The sale is “as is where is”. The Trustee proposes the sale is made free of liens, claims and encumbrances. 

This is a cash sale and is subject to higher and better offers, which next offer, if any, shall commence at an at least $130,000 bid, and under the same terms as this proposed sale. All such bidders must bring a $30,000 bank check or certified funds check to court on the return date of this motion made payable to “Benjamin A. Stanziale, Jr., Chapter 7 Trustee.”