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Rights to Escrow Accounts including Interest Income and Principal
Listing Information
Attachments
Rights to Escrow Accounts including Interest Income and Principal
Price: $286,000.00
Other Item Info
Item #: nmbke_156579
Created: 08/01/2018
Category: Business Property > Financial > Other
Sale Date: None Set
Created: 08/01/2018
Category: Business Property > Financial > Other
Sale Date: None Set
Seller Info
William F. Davis
Debtor's Attorney
6709 Academy NE, Suite A
Albuquerque, NM 87109
505-243-6129
Debtor's Attorney
6709 Academy NE, Suite A
Albuquerque, NM 87109
505-243-6129
Bankruptcy Info
Case #: 1:16-bk-12335
Case Title: Sandia Tobacco Manufacturers, Inc.
Court: New Mexico Bankruptcy Court
Chapter: 11
View Case Docket
Case Title: Sandia Tobacco Manufacturers, Inc.
Court: New Mexico Bankruptcy Court
Chapter: 11
View Case Docket
Description
Sale of rights to escrow accounts, including interest income and principal (the "Escrow"). Included in the Escrow are sub accounts for California, Oregon, and Nevada that the seller administers for Fresh Choice Tobacco Company. These four accounts had a total balance of approximately $1,300,000.00 as of April 30, 2018 ("Cousins Sub-Accounts"). The seller believes the rights it is assigning and the assets it is selling with regards to the Cousins Sub-Accounts are the rights to any amounts of remaining funds in the Cousins Sub-Accounts at the end of 25 years after they were put into the accounts as stated by States' statutes. The sale accounts, described as below:
- California Sub A Account New Mexico Bank and Trust Account #5659302;
- Nevada Sub A Account New Mexico Bank and Trust Account #0056593;
- Nevada Sub B Account New Mexico Bank and Trust Account number ending in 932; and
- Oregon Sub Account New Mexico Bank and Trust Account #5659304.
Financial Overview
Income and Expenses ($)
months
Revenue/Gross Income:
Total Expenses:
Cash Flow:
Asset and Liability Summary ($)
Receivables:
Inventory:
FF&E:
Real Estate:
Total Assets:
Liabilities to assume:
Additional Details
Purchase Price: Total purchase price that is 22% of the value of the Cousins Sub-Accounts (the "Purchase Price"). The seller estimates the Purchase Price to be approximately $286,000.00.