Search Results for: "Creditor"
Bankruptcy Valuation Valuation—the estimation of an entity’s worth—plays a crucial role in all stages of a commercial bankruptcy, as well in any out-of-court restructuring.¹ Valuation can be critical at the beginning of a bankruptcy case in determining whether the debtor can use cash collateral or obtain debtor-in-possession financing. At the confirmation stage, valuation plays a critical role in determining whether a chapter 11 plan can be confirmed and, if so, how much each class of creditors will receive on its claim. Even after confirmation, valuation is an essential issue in […]
“The time to buy is when there’s blood in the streets.” – Baron Rothschild Don’t Panic, There Are Many Opportunities in Bankruptcy When a client or a competitor files for bankruptcy, it is natural to reflect on the downside. What’s going to happen to my outstanding receivable? Is the market primed for a downturn? How am I going to replace any lost business? These concerns are very real and require meaningful thought and discussion. However, solely focusing attention on the downside can prove short-sighted. There are incredible opportunities in bankruptcy […]
NAFER (the National Association of Federal Equity Receivers) held another wisdom-rich conference in October, this time at the Drake Hotel in Chicago. It was the seventh annual event and attracted 200 attendees. The conference included the Training Camp as well as panel discussions on snares and pitfalls for receivers, cryptocurrency, overseas asset recovery and more. We note gratefully that the proceedings were again overseen and moved along by the witty and time-sensitive Robert P. Mosier. Chicago, our kind of town and hometown, provided ample pleasant settings in which fellow practitioners […]
Notice of Bankruptcy Auction of 1212 75th St., Downers Grove, Illinois BACKGROUND Executive Summary. Bankruptcy auction of 76,850 square foot retail building on approximately 9.69 acres, commonly known as 1212 75th St., Downers Grove, Illinois (the “Property”), on November 14, 2018, at 2:00 p.m. CT. Bidding at Auction starts at $2.8 million. Background. The Property is one of the assets of the bankruptcy estate Raceway Central Downers Grove LLC, which case is pending in the Bankruptcy Court for the Northern District of Illinois, case no. 17-18810. The chapter 7 Trustee is Gregg E. Szilagyi. Stalking Horse Offer. DTS Properties, LLC (“Buyer”) has made an offer to purchase the Property for $2,650,000. Bankruptcy Order. The Bankruptcy Court has authorized (the “Order”) the Trustee to conduct a sale (the “Sale”) of the Property to the Buyer pursuant to a written agreement (the “Agreement”), subject to higher and better bids at Auction. The […]
A written tour of business bankruptcy and its alternatives. This is the latest in the series, Dealing with Distress for Fun & Profit, which you can read from the beginning if you like. In this bat-installment, we turn to what is, theoretically, one of the most important parts of any chapter 11 case: confirming a chapter 11 plan. Chapter 11 Plans Are Not Always in the Cards Notice our use of the word “theoretically” above? That is because in many chapter 11 cases there never is a plan. Some cases […]
DATE OF SALE: November 8, 2018 PLACE OF SALE: Intercounty Judicial Sales 120 West Madison Street, Suite 7l8A Chicago, Illinois TIME OF SALE: 11:00 A.M. CST NOTICE IS HEREBY GIVEN that the collateral described below will be sold to the highest bidder at a PUBLIC SALE on November 8, 2018, 11:00 a.m. CST, at, Intercounty Judicial Sales, 120 West Madison Street, Suite 718A, Chicago, Illinois, by Intercounty Judicial Sales, court-appointed auctioneer, on behalf of COMM 2013-CCRE12 NORTH ROSELLE ROAD, LLC (“Secured Party”). Secured Party is a duly perfected first-priority secured creditor with respect to the Judgment of Foreclosure and Order of Sale entered against OM SHERA HOTELS OF CHICAGO, LLC (“Borrower”) in favor of Secured Party on August 14, 2018 in the Circuit Court of Cook County, Illinois, Case No. 18 CH 919 (the “Judgment”) and the security interests granted by the Mortgage and Security Agreement dated September 13, 2013 […]
NOTICE OF RECEIVERSHIP SALE – 3si Systems, LLC 1. Executive Summary. William A. Brandt, Jr. of Development Specialists, Inc., Receiver of 3si Systems, LLC (the “Receiver”), is selling all of the technology and business assets associated with 3si Systems’ hospital operating room Voice Command System (the “Voice Command System Assets”). 2. Key Deadlines: Bid Deadline: November 12, 2018 Auction Date: November 15, 2018 Sale Hearing: November 16, 2018 3. The Voice Command System. The Voice Command System is a mobile workflow management system that leverages advances in speech recognition technology to support human performance in the operating room. The Voice Command System Assets include, but are not limited to, prototype equipment and computers, software and code, domestic and international patents and patent applications, and domestic and international distribution rights. 4. The Auction Procedures Order. The Receiver is selling the Voice Command System Assets pursuant to the terms of the Auction […]
NOTICE OF DISPOSITION OF COLLATERAL PLEDGED BY LIBERTY AMMUNITION, INC. UNDER ARTICLE 9 OF THE UCC Executive Summary. Pursuant to Section 9-610 of the Uniform Commercial Code, the Secured Creditor (defined below) intends to foreclose upon its security interest in the Collateral (defined below) by selling the Collateral at a public sale to the highest bidder on September 12, 2018 at 12:00 p.m. at 2083 58th Ave. Circle East, Suite B, Bradenton, Florida 34203 Debtor. The debtor is LIBERTY AMMUNITION, INC. (“Debtor”), located at 2083 58th Ave. Circle East, Suite B, Bradenton, Florida 33605. Collateral. The Collateral that is subject to this Notice of Disposition includes all equipment, fixtures, general intangibles, inventory, and goods, as those terms are defined in the Delaware Statutes, Chapter 6, Article 9, Section 102, and all those items of personal not specifically listed but located at 2083 58th Ave. Circle East, Suite B, Bradenton, Florida, […]
NOTICE OF PUBLIC SALE OF COLLATERAL DATE OF SALE: April 30, 2018 PLACE OF SALE: Foley & Lardner LLP 321 N. Clark Street, Suite 2800 Chicago, Illinois 60654 TIME OF SALE: 12:00 P.M. CDT NOTICE IS HEREBY GIVEN that the collateral described below will be sold to the highest bidder at a PUBLIC SALE on April 30, 2018, 12:00 p.m. CST, at, Foley & Lardner LLP, 321 N. Clark Street, Suite 2800, Chicago, Illinois 60654, by Monroe Capital Management Advisors, LLC, as administrative agent of certain Lenders (“Secured Party”). Secured Party is a duly perfected first-priority secured creditor with respect to all present and future debts, obligations and liabilities of Dominus Health Intermediate Holdco, LLC; CR Holdings, LLC; Complete Nutrition Franchise Holdings, LLC; Complete Nutrition Corporate Stores, LLC; Complete Nutrition Worldwide, LLC; CN Online, LLC; R2 Distribution, LLC; Complete Nutrition IP, LLC (“CN IP”); and Complete Nutrition Franchising, LLC; (collectively, […]
Jump to: Viewing Deal Details What is Actionable Data? The Deal Types Searching & Filtering How to Use the Distressed Deal Data™ Database As a subscriber to DailyDAC’s Distressed Deal Data™ (“DDD”)™ you may access our deal intelligence in two ways: Your subscription includes 24/7 access to the Distressed Deal Data™ Database (“DDDD”), our private database, so that you can access new deals in real time, as they are added throughout each day of every week. Your subscription also includes a weekly newsletter that recaps all the information added to […]