49% Membership Interest in LLC
Listing Information
Attachments
49% Membership Interest in LLC
Price: $70,000.00
Other Item Info
Item #: casbke_452862
Created: 06/02/2022
Category: Business Property > Investments > Partnership interests/ LLC/LLP
Sale Location: San Diego, California
Sale Date: Fri. Jul 1, 2022
Created: 06/02/2022
Category: Business Property > Investments > Partnership interests/ LLC/LLP
Sale Location: San Diego, California
Sale Date: Fri. Jul 1, 2022
Seller Info
Christopher Barclay
Trustee
P.O. Box 2819
La Mesa, CA 91943
619-255-1529
Trustee
P.O. Box 2819
La Mesa, CA 91943
619-255-1529
Bankruptcy Info
Case #: 3:22-bk-00294
Case Title: Vey's Bandit, LLC
Court: California Southern Bankruptcy Court
Chapter: 7
View Case Docket
Case Title: Vey's Bandit, LLC
Court: California Southern Bankruptcy Court
Chapter: 7
View Case Docket
Description
The Trustee proposes to sell the bankruptcy estate's right, title, and interest, if any, in the Debtor's 49% membership interest in Adventure Twins LLC (the "LLC") to NCY Holdings, Inc. for $70,000.00. The sale is subject to overbids.
Financial Overview
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Sale Location
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San Diego, CA, 92101
Other Information
Terms and Conditions:
The proposed buyer has waived all contingencies and provided the Trustee with a deposit of $5,000.00. The Property is being sold on an "as is, where is" basis, with no warranties or representations of any kind. Below are the proposed overbid sale procedures:
1. Pre-Bid Diligence
Prospective bidders may contact the Trustee to obtain information regarding the Assets and to make an appointment to inspect the Assets. The Trustee's email address is [email protected] and his phone number is (619) 255-1529.
2. Overbid Deadline
Any party wishing to bid on the Assets shall submit a bid in accordance with these procedures no later than 5:00 p.m., prevailing Pacific Time, on June 27, 2022 (the "Overbid Deadline"). In his sole and absolute discretion, the Trustee shall have the right to accept additional overbids submitted prior to the sale hearing but after the Overbid Deadline.
3. Minimum Initial Overbid
The minimum initial overbid shall be $80,000.00 (the "Minimum Overbid").
4. Overbid Requirements
Any party wishing to submit an overbid for the Assets must deliver the following three items to the Trustee (with a copy to the Trustee's counsel) by no later than the Overbid Deadline:
(a) A wire transfer or cashier's check, payable to "Christopher R. Barclay, Chapter 7 Trustee," in the amount of $5,000.00 to serve as a deposit towards the total purchase price (the "Deposit").
(b) An executed copy of a definitive purchase and sale agreement in substantially the form attached as Exhibit B to the Declaration of Christopher R. Barclay (the "Overbid PSA"). The Trustee will provide all prospective overbidders with an electronic copy of the form Overbid PSA upon reasonable request. In the event an overbidder makes any changes to the form Overbid PSA, that overbidder must also provide a separate version of its agreement redlined or otherwise marked to show any and all such changes.
(c) Evidence of the proposed buyer's financial ability to pay the full amount of the overbid.
The overbid may be delivered to the Trustee via email at [email protected] or to the following address: Christopher R. Barclay, P.O. Box 2819, La Mesa, CA 91943-2819. Contact information for the Trustee's counsel is listed on page one of the sale motion papers and notice of hearing.