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Assets of Automotive and Military Engineering Services Business

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Listing Information

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Assets of Automotive and Military Engineering Services Business



Price: $1,250,000.00


Other Item Info
Item #: miebke_939943
Created: 11/02/2020
Category: Business Property > All Assets or Going Concerns > Aerospace & Defense
Sale Date: Mon. Dec 14, 2020
Seller Info
Zachary R. Tucker
Debtor's Attorney
Suite A
Grand Blanc, MI 48439
810-579-3600
Bankruptcy Info
Case #: 2:20-bk-48744
Case Title: Lapeer Industries, Inc.
Court: Michigan Eastern Bankruptcy Court
Chapter: 11
View Case Docket

See More Documents

Description

Auction Sale of substantially all of assets of Lapeer Industries, Inc. (the “Seller”), including, but not limited to, seller’s right, title and interest to the following:

  • All tangible personal property, leasehold improvements, installations, fixtures, trade fixtures, equipment, fittings, furniture, furnishings, inventory, office equipment and supplies (collectively, “Tangible Property”) located and used at each Location, excluding tangible personal property included in the Excluded Assets;
  • All right, title and interest of the seller and its bankruptcy estate in the real property lease (the “Real Property Lease”) related to seller's location commonly known as 3140 John Conley Drive Lapeer, MI 48446 and the personal property leases (the “Personal Property Lease”) described in Exhibit A, as well as all right, title and interest of the Debtor and its bankruptcy estates in the property that is the subject of the Personal Property Leases;
  • All computers, computer equipment, computer hardware/software, servers, fiber optic lines, copiers, security systems, machines, keys, codes and all other equipment owned by seller.
  • All telephone numbers registered to the seller; e-mail addresses, domain names, fax numbers, websites provided however, that the Buyer acknowledges that the seller will utilize the telephone numbers in the ordinary course of business prior to the Closing Date;
  • All of Seller’s intellectual property and all rights to any intellectual property of any other person licensed to the seller pursuant to any contract including names, domain names, trademarks, registrations, websites, assumed names, logos, masks, copyrights, and patents;
  • All contracts and all rights of the seller under any contracts, including without limitation, any right to any accounts receivable related to or arising from any of the contracts; All express or implied guarantees, warranties, representations, covenants, indemnities, rights, claims, counterclaims, defenses, credits, causes of action or rights of set off against third parties relating to the Assets (including, for the avoidance of doubt, those arising under, or otherwise relating to the contracts to be purchased) or liabilities, including without limitation, rights under vendors’ and manufacturers’ warranties, indemnities, and guaranties; To the extent transferrable under applicable law or with the consent of any third party, if necessary, which consent has been obtained, all licenses, permits, certifications and approvals from all permitting, licensing, accrediting and certifying agencies, all pending applications for any of the foregoing, and the rights to all data and records held by such permitting, licensing and certifying agencies;
  • All goodwill of the business as a going concern and all other intangible properties of the business;
  • All documents consisting of purchasing and sales records, accounting records, business plans, budgets, cost and pricing information, customer and vendor lists, client records wherever located related to the business, other than those documents that are Excluded Assets as identified below;
  • Seller's current employees are leased from a third party, however retention of employees is likely possible.
  • Accordingly, all personnel files for employees the purchaser intends to retain will also be included, except as required under Law; provided, however, that the Debtor has the right to retain copies at their expense to the extent required by Law.;
  • All prepaid expenses relating to the Assets;
  • Any rights, claims or causes of action of the seller, except for those identified as, related to, or arising under, Excluded Assets;
  • All customer contracts for services for which performance is due or to become due by the seller at any location of the seller that is operating as of the date of closing;
  • Any claim, right or interest of seller in or to any refund, or rebate relating to the Assets; and
  • All insurance claims or proceeds arising out of or related to the damage, destruction, or loss of any Asset to the extent any damage, destruction or loss remains unrepaired or not replaced at the Closing.

Additional Details

  1. Auction Time: 10:00 a.m.
  2. Minimun Bid Amount: The aggregate consideration (the “Purchase Price”) for the Assets shall be an amount of no less than $1,250,000.00 plus any outstanding DIP loan amount which amount excludes Cure Costs and Assumed Liabilities for pre-paid customer unperformed services.
  3. Bid Increment: $50,000
  4. Bid Deposit: $100,000.00
  5. Bid Deadline: December 2, 2020
  6. Last date to respond: December 18, 2020


Other Information

Terms and Conditions:

See Attached.


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