Stock in an Australian Company

The Trustee seeks an order approving the sale of the Securities in exchange for $310,000.00, cash, or to such higher and better amount offered and confirmed at the auction, payable within five (5) business days of entry of an order approving the sale. The Securities are being sold on an “as is” “where is” basis, with no warranties, recourse, contingencies or representations of any kind aside from the representation and warranty that the Trustee is the legal owner of the assets of the Estate and is empowered with the disposition of those assets. The Securities are being sold free and clear of existing liens, claims and interests, with said liens, claims and interests to attach to the sales proceeds in the same manner and priority as under applicable law. 

The Buyer has offered to purchase the Securities for $310,000.00 (the "Purchase Price") to be paid within five (5) calendar days following entry of the order approving the sale of the Securities. The initial overbid will be in the amount of $320,000.00, which is $10,000.00 greater than the Purchase Price, subsequent overbids to be in minimal increments of $5,000.00.  Any person or entity desiring to submit an overbid must submit (i) a cashier's check, payable to "Howard M. Ehrenberg, Chapter 7 Trustee," in the amount of $15,000.00 (the "Deposit"), and (ii) evidence of the financial wherewithal to purchase the Securities, to counsel for the Trustee (Jason D. Balitzer, Esq., [email protected], SulmeyerKupetz, A Professional Corporation, 333 Hope Street, 35th Floor, Los Angeles, California 90071), no later than 5:00 p.m., Pacific Time, on Monday, November 30, 2015, before being qualified to participate as a prospective overbidder at the hearing. The Deposit shall not be refundable to any bidder who, upon successfully offering the highest bid, is thereafter unable or unwilling to complete the purchase of the Securities. In the event that any participant, including the Buyer, is not the winning bidder, the Deposit proffered by such party shall be immediately refundable, unless such party elects to serve as a back-up bidder. To the extent that a participant serves as a back-up bidder, the Trustee shall hold that party's
Deposit in trust until the sale of the Securities to the winning bidder closes, at which time the Trustee will return the backup bidder's Deposit to the backup bidder. All parties who have submitted timely bids and otherwise satisfied the requirements will be able to participate in an auction to be conducted at the hearing as is necessary in order to increase their bid. The Initial Overbid will be in the amount of $320,000.00 and any subsequent overbids will be in increments of $5,000.00. Should an auction occur, any winning overbidder, including the Buyer (should the Buyer participate in the overbid auction), must pay the full amount of the successful overbid to the Trustee within five (5) business days from the date the order approving the sale is entered. In the event that the highest bidder cannot make such payment within five (5)  business days from the date the order approving the sale is entered, the Trustee shall be authorized to accept the offer made by the second highest overbidder. The Trustee reserves the right to reject any and all overbids that, in his business judgment, are insufficient. To the extent the Court approves the sale to a qualified overbidder who then fails to close due to a breach (other than a material breach by the Trustee), the overbidder's deposit shall be forfeited as damages to the Estate.