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Judgments, Commissions and Remnant Assets for Auction
Listing Information
Attachments
Judgments, Commissions and Remnant Assets for Auction
Price: Not Specified
Other Item Info
Item #: nysbke_288702
Created: 01/28/2023
Category: Business Property > Equipment > Remnant
Sale Date: Fri. Apr 14, 2023
Created: 01/28/2023
Category: Business Property > Equipment > Remnant
Sale Date: Fri. Apr 14, 2023
Seller Info
Robert A. Wolf
Trustee's Attorney
1350 Broadway11th Floor
New York, NY 10018
(212) 216-8000
Trustee's Attorney
1350 Broadway11th Floor
New York, NY 10018
(212) 216-8000
Bankruptcy Info
Case #: 1:18-bk-13915
Case Title: Donadio & Olson, Inc.
Court: New York Southern Bankruptcy Court
Chapter: 7
View Case Docket
Case Title: Donadio & Olson, Inc.
Court: New York Southern Bankruptcy Court
Chapter: 7
View Case Docket
Description
Auction Sale of remaining assets of Donadio & Olson, Inc. (the “Seller”). Those remaining assets (collectively, the “Assets”) are comprised of the following:
- Commissions due and to become due from publishers, based upon royalties from sales of works earned by authors for whom the Debtor served as literary agent (the “Commissions”);
- A default judgment obtained in an adversary proceeding in this bankruptcy case by the Trustee against Darin Webb and The Bookkeeping Company, Inc. d/b/a/ Sum Innovation in the amount of $3,409,650.00, and a related restitution order and restitution judgment entered in the United States’ criminal proceeding against Darin Webb obligating him to make restitution to the Trustee in the amount of $3,414,650.00 (the “Judgment Rights”); and
- Any remnant assets of the Debtor’s estate whose identity and location are presently not known to the Trustee (the “Remnant Assets”).
Financial Overview
Income and Expenses ($)
months
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Total Expenses:
Cash Flow:
Asset and Liability Summary ($)
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Real Estate:
Total Assets:
Liabilities to assume:
Additional Details
- Auction Time: 10:30 a.m.
- Bid Amount: At the Auction, the Trustee will first entertain Separate Bids, and once highest and/or best Separate Bids for each of the three (3) components of the Assets are determined, will then entertain Bulk Bids. The specific procedures, and order thereof, to govern each of those two bidding procedure alternatives shall be as follows: (i) Commissions for $50,000.00; (ii) Judgment Rights for $50,000.00; (iii) Remnant Assets for $15,000.00; and (iv) Bulk Bids: The amount of the starting Bulk Bid for the Assets will be the greater of the highest amount for same submitted by a Qualified Bidder by the Bid Deadline, or $5,000.00 in excess of the aggregate amount of the highest Separate Bids.
- Bid Increment: (i) Commissions for $5,000.00; (ii) Judgment Rights for $5,000.00; (iii) Remnant Assets for $2,500.00 and (iv) Bulk Bids for $5,000.00.
- Bid Deadline: 12:00 noon on the day prior to the auction