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About The DailyDAC Editors

The DailyDAC Editors

The editors and editorial board of DailyDAC include preeminent restructuring and insolvency professionals, journalists, and editors. They are devoted to providing reliable and plain English education and deal intelligence about assignments, corporate bankruptcy, receiverships, out-of-court workouts and similar topics.


Articles by The DailyDAC Editors

NOTICE OF PUBLIC DISPOSITION OF COLLATERAL CLICK HERE FOR EXHIBIT A – BILL OF SALE & TRANSFERRED ASSETS TO: FIREFLY SYSTEMS INC. and any party entitled to notice under Texas Uniform Commercial Code § 9.611 FROM: EOS LAUNCHER, INC. 1906 El Camino Real, Suite 201 Menlo Park, CA 94027 Attn: Maxym Polyakov Tel: (650) 798-4457 Email: [email protected] Date: March 16, 2017 Time: 10:00 a.m., Pacific Time Place: 1906 El Camino Real, Suite 201 Menlo Park, CA 94027   EOS Launcher, Inc., a Delaware corporation, assignee of FITA LLC, Patrick Joseph King, Thomas E. Markusic, Voyager Holdings Limited and Beshara Eric Salwan (collectively the “Assignors”) and by such assignment the “Lender” and secured party (“Secured Party”) under the Loan and Security Agreement, dated as of October 20, 2016 (the “Security Agreement”), by and between Assignors and Firefly Systems Inc., “Borrower” and debtor (“Debtor”), hereby gives notice that Secured Party will conduct a public disposition […]

HOWARD B. SAMUELS, NOT INDIVIDUALLY, BUT SOLELY AS ASSIGNEE FOR THE BENEFIT OF CREDITORS (“ASSIGNEE”) OF FARMEDHERE, LLC (“FARMEDHERE”) ANNOUNCES SALE OF ASSETS (“ASSETS”)   1. Sale The Assignee will conduct a sale of the Assets (“Sale”) on Thursday, February 23, 2017 at 2:00 pm CT (“Sale Date”).  The Assets will be offered as two separate lots: The Assets to be sold in Lot 1 include but are not limited to trademarks, copyrights, patents, trade secrets, trade dress, and any other known or unknown intellectual property related to FarmedHere or its business, including but not limited to specifically: The domain www.farmedhere.com (to the extent assignable) as well as all farmedhere.com email addresses (to the extent assignable), all FarmedHere social media accounts including but not limited to Twitter, Facebook, Instagram and Pintrest (to the extent assignable); United States Trademark Reg. Nos. 5026385 and 4292224, all UPC codes, Ceres software platform, all […]

See Below for Photos   Offer deadline March 22, 2017.  All transactions are subject to Bankruptcy Court approval. Keen-Summit Capital Partners LLC , has been engaged by the chapter 11 estates of the debtors in the jointly-administered chapter 11 bankruptcy cases captioned In re Maxus Energy Corporation, Case No. 16-11501 (Bankr. D. Del.) as exclusive real estate broker for the offering of these 5 owned development sites. The sites are owned by debtors Maxus Energy Corporation and Tierra Solutions, Inc. Each property is affected by environmental issues.  However, all environmental concerns, such as investigation, remediation and maintenance, are the responsibility of a third party. The Properties are located in New Jersey, Ohio and Alabama.  The properties in New Jersey and Alabama are located in industrial areas and may potentially be developed for industrial purposes. The property in Ohio is located on Lake Erie and has potential for residential and recreational development.  The […]

JOINT NOTICE OF PUBLIC SALE BY ORDER OF THE SECURED PARTY AND ASSIGNEE FOR THE BENEFIT OF CREDITORS OF ROCKFORD PRODUCTS, LLC SALE OF ASSETS: Notice is hereby given that on February 14, 15 and 16, 2017, commencing each day at 10:00 a.m. (CST) (each such date, the “Date of Sale”), at the warehouse formerly occupied by Rockford Products, LLC (“Rockford Products”), 707 Harrison Avenue, Rockford, IL 61104 (the “Premises”), the secured party First Midwest Bank (“Lender”) and Howard B. Samuels, not individually, but solely in his capacity as Assignee for the Benefit of Creditors (“Assignee,” and together with Lender, “Sellers”) of Rockford Products shall hold a joint public auction in accordance with the Uniform Commercial Code (as adopted under Illinois law) and other applicable law (the “Joint Sale”) for substantially all of the remaining personal property assets of Rockford Products (collectively, the “Sale Assets”), other than the Excluded Assets […]

PLEASE TAKE NOTICE THAT the Chapter 11 Debtor educational software company shall sell by auction substantially all of its assets, including flash-based software platform, trademarks, and logos.   The Bankruptcy Court has entered an order setting the following dates: Bid deadline: February 13, 2017; Auction: February 15, 2017; Sale Hearing: February 21, 2017.  The Auction will take place in Chicago, Illinois. Overview Educational software business available: Developer and marketer of cognitive enhancement and learning improvement Flash-based software designed around a game concept Education and learning programs target K-12 students as well as individuals and office practitioners Over 5,500 users in the past 2 years Assets include software Flash platform, trademarks and logos Historically, Company has experienced years with annual revenues in excess of $300,000 Investment opportunity to upgrade software technology for mobile and tablet use Legacy debts that precipitated costly litigation claims and precluded raising capital for upgrading technology have led company to seek protection […]

PUBLIC NOTICE OF SALE OF ATLANTA OFFICE TOWER AND 5.5 ACRES Hays Financial Consulting as Receiver and Greystone Brown Real Estate Advisors are conducting a sale by receiver of the Presidential Tower and surrounding acreage in  prime location at interchange of I-85 and I-285 used as a hotel, office condos, residential condos, and well-suited for other commercial or housing uses, such as student housing, senior living, or self-storage. Property Highlights: Year Built / Renovated: 1973 / N/A Total Square Feet: 190,800 SF 14 Floors, 222 units Site Details Site Size: 5.5 Acres, 3 buildings, Tower has 14 floors, 222 units Address: 4001 Presidential Parkway, Atlanta, GA 30340 Investment Highlights: Prime location at interchange of I-85 and I-285, with extraordinary visibility and exposure to 426,000 vehicles per day; and immediate access to two interstates gives tower residents quick and easy commutes to major centers of employment throughout the metro area The vacant tower has in past been used as […]

NOTICE OF SALE OF OPERATING COMPANY EVANS TEMPCON, INC. Charles (Chip) Hoebeke of Rehmann Turnaround and Receivership Services, LLC, appointed as the Receiver over Evans Tempcon, Inc. (“Evans”) by the U.S. District Court for the Western District of Michigan in Case No 1:14-cv-00782, hereby provides notice of his intent to sell Evans as a going-concern. Company Overview: Evans is an industry leader for engineering and manufacturing heating, ventilation, and air conditioning (“HVAC”) systems and components for recreational, agricultural, off-highway and specialty vehicles. Evans’ plant and offices are located in approximately 288,000 square feet of buildings in Grand Rapids, Michigan. Manufacturing operations occupy 225,000 square feet and offices occupy 30,000 square feet of space. Evans is ISO 9001 certified and employs 66 individuals. Proposed Transaction: The Receiver anticipates selling Evans as a going-concern in an asset sale, but would consider a stock sale. Because of the accelerated nature of this process, […]

The fifth annual NAFER conference featured receivers and federal judges, among others DailyDAC Editorial Staff attended the fifth national conference of the National Association of Federal Equity Receivers (NAFER), held at the historic Mayflower Hotel in our nation’s capital, on October 13-15. The audience at the three day conference was composed largely of receivers, professionals who represent receivers, and federal judges. For newbies, the conference opened with a two-hour session entitled Receiver Training Camp, led by two past presidents of NAFER (Robert Wing and Steve Donell) plus presidents outgoing (Ira Bodenstein) and […]

Gerchen Keller purchases a portion of the interest in proceeds of $213 million fraudulent conveyance judgment in innovative public sale. An interesting transaction took place on September 8, 2016. The chapter 7 bankruptcy trustee for Magnesium Corporation of America (“MagCorp”) sold a $50 million share of a $213 million judgment it has against fraudulent conveyance transferee, Renco Group Inc. and former MagCorp owner, Ira Rennert. The buyer, Gerchen Keller Capital LLC paid $26.2 million transaction for the interest. Those close to the deal report that this may be the first […]

SALE OF TWO MALLS.  Notice is hereby given that Pierce & Associates, on behalf of Development Specialists, Inc. as Liquidating Trustee appointed in the chapter 11 bankruptcy case of In re J&E Land Company, Inc., Case No. 13-02081 (Bankr. N.D. Alabama) will conduct a public sale by on-line auction of the following two shopping centers located in Jasper, Alabama, to be sold individually (property information reports are available): #1 – Medical Plaza East – 4331 Highway 78 East, Jasper, Alabama 35501 Parcel ID#64-17-01-12-3-000-017.000 67,000 Sq. Ft. Retail Space (previous appraisal lists the shopping center as having over 74,000 sq. ft.);  6.8 acres, more or less Income Producing: (13) Tenants, anchored by Alabama ABC store and medical offices, (17) Vacant Spaces for additional income; Recent Environmental Phase I conducted Current Monthly Income – $22,921.28 with 17 spaces vacant.   #2 – Walston Bridge Plaza – 301 Walston Bridge Road, Jasper, Alabama […]

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