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Litigation Claims for Sale
Listing Information
Attachments
Litigation Claims for Sale
Price: $20,000.00
Other Item Info
Item #: cacbke_1931574
Created: 03/30/2023
Category: Business Property > Financial > Claim
Sale Location: Los Angeles, California
Sale Date: Tue. May 2, 2023
Created: 03/30/2023
Category: Business Property > Financial > Claim
Sale Location: Los Angeles, California
Sale Date: Tue. May 2, 2023
Seller Info
M Douglas Flahaut
Trustee's Attorney
555 W Fifth St 48th fl
Los Angeles, CA 90013
213-443-7559
Trustee's Attorney
555 W Fifth St 48th fl
Los Angeles, CA 90013
213-443-7559
Bankruptcy Info
Case #: 2:21-bk-16478
Case Title: Hannibal Classics, Inc.
Court: California Central Bankruptcy Court
Chapter: 7
View Case Docket
Case Title: Hannibal Classics, Inc.
Court: California Central Bankruptcy Court
Chapter: 7
View Case Docket
Description
Sale of all of the Estate’s litigation claims and affirmative rights, which claims include but are not limited to the State Court Action and any and all avoidance claims under Chapter 5 of the Bankruptcy Code (the “Avoidance Claims,” and collectively, the “Litigation Rights”).
Financial Overview
Income and Expenses ($)
months
Revenue/Gross Income:
Total Expenses:
Cash Flow:
Asset and Liability Summary ($)
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Inventory:
FF&E:
Real Estate:
Total Assets:
Liabilities to assume:
Sale Location
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Los Angeles, CA, 90012
Additional Details
- Sale Hearing in "Courtroom 1368" @ 11:00 a.m.
- Purchase Price: (i) the sum of twenty thousand dollars ($20,000) due immediately upon the Court’s approval of the Sale Agreement (the “Cash Component”); (ii) fifteen percent (15%) of Buyer’s ultimate recoveries from the Litigation Rights net of all attorneys’ fees (including contingency counsel fees incurred by counsel retained by Buyer) and costs up to a recovery of one million dollars ($1,000,000), net of the Cash Component (the “Basic Recovery Component”); and (iii) ten percent (10%) of Buyer’s ultimate recoveries from the Litigation Rights net of all attorneys’ fees (including contingency counsel fees incurred by counsel retained by Buyer) and costs in excess of a recovery one million dollars ($1,000,000), net of the Cash Component (the “Success Component”).
- Bid Amount: Must be at least $7,500.00 higher than the sale price
- Bid Deposit: $5,000.00
- Bid Deadline: 5 days prior to the sale hearing