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Promissory Note and Litigation Rights for Sale
Listing Information
Attachments
Promissory Note and Litigation Rights for Sale
Price: $6,500.00
Other Item Info
Item #: txsbke_405807
Created: 05/24/2017
Category: Business Property > Financial > Other
Sale Date: None Set
Created: 05/24/2017
Category: Business Property > Financial > Other
Sale Date: None Set
Seller Info
Rhonda R Chandler
Trustee's Attorney
333 Clay St 29th Fl
Houston, TX 77002
713-328-2853
Trustee's Attorney
333 Clay St 29th Fl
Houston, TX 77002
713-328-2853
Bankruptcy Info
Case #: 4:16-bk-34815
Case Title: 3 Star Properties, LLC
Court: Texas Southern Bankruptcy Court
Chapter: 7
View Case Docket
Case Title: 3 Star Properties, LLC
Court: Texas Southern Bankruptcy Court
Chapter: 7
View Case Docket
Description
Sale of Promissory Note and Litigation Rights, described as below:
- The promissory note payable to the Seller by SED in the original principal amount of $11,880,171 (the "Note") thereby extinguishing the promissory note; and
- All causes of action and claims asserted by the Debtor against SED in Cause No. 2015-05015; 3 Star Properties, LLC v. SED Holdings, LLC; originally filed in the 127th Judicial District Court of Harris County, Texas but later removed to the bankruptcy court and made part of consolidated Adv. Proc. No. 17-03051, including claims for breach of the Nonperforming Note and Mortgage Loans Sale Agreement dated June 20, 2014 between the Debtor and SED, default of the Note, and breach of the Security Agreement between the Debtor and SED (the "Litigation Rights").
Financial Overview
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Additional Details
Last date to respond: 21 days from the date of service
Date of Service: May 22, 2017