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AUCTION OF ASSETS OF Confidential Company Offer Deadline June 26, 2023, at 5:00 pm Pacific Time. NDA Deadline June 14, 2023 Background The Confidential Company is a is a premium furniture rental company. The Company elevates the home furnishing experience for the next generation of professionals through product quality, service level, and sustainability. The Company has two business segments servicing seven metro areas: Direct to Consumer: Its furniture-as-a-service solution focuses on young, successful renters who value a more sustainable and flexible alternative to the hassles of moving, storing and trashing furniture. Business to Business: The Company works with real estate operators to power furnished rental programs, providing a best-in-class, 360o holistic solution across design, operations, installation, technology and financing. The Company is the subject of an assignment for the benefit of creditors. Process Overview The prospective Assignee will provide a form asset purchase agreement (“APA”) to interested parties who […]
Although commonly used interchangeably, recharacterization and equitable subordination have different purposes and effects on order of priority of claims.
Receiverships have been a remedy in Minnesota law for over a hundred years, but Minnesota recently revised its receivership statute in 2012. Understand more about how this bankruptcy alternative may be used to sell commercial real estate.
Learn about the necessary steps needed to get a receiver appointed, including the important details of the motion for the appointment of a receiver.
NOTICE OF PUBLIC SALE OF COLLATERAL DATE OF SALE: June 8, 2023 PLACE OF SALE: Foley & Lardner LLP, 321 N. Clark Street, Suite 3000, Chicago, IL 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 June 8, 2023 12:00 p.m. CDT, at, Foley & Lardner LLP, 321 N. Clark Street, Suite 3000, Chicago, Illinois 60654, by BRES Holdings LLC, an Illinois limited liability company (“Secured Party”). Secured Party is a duly perfected first-priority secured creditor with respect to all of Tim Hashlamoun’s and Waseem Hashlamoun’s (collectively, the “Debtors”) interests in the collateral described below pursuant to that Pledge Agreement dated December 30, 2022 (the “Pledge Agreement”) made by the Debtors in favor of Secured Party, that Consent Agreement dated as of December 30, 2022 (the “Consent Agreement”) made by […]
Whether there is change in collateral or a serial number is listed incorrectly, errors in collateral descriptions can lead to expensive disputes.
What is a composition agreement? It’s a bankruptcy alternative that can alter payments to creditors that want to keep the debtor in business. Learn more in this 90 second lesson.
Rebecca DeMarb outlines the different types of receiverships in the different states and what you need to know about the differences between them.
Receiverships are essentially an equitable remedy where a court appoints a 3rd party neutral to assist parties in recovery outside of bankruptcy.
As the CRA ushers in its second year, it is pleased to announce the appointment of three new State Directors – Richard Arbuckle, Marc D. Miceli, and David Payne.