DailyDAC
Share this...

PUBLIC NOTICE OF UCC ARTICLE 9 SALE: Emmett Group LLC

NOTICE OF SALE

PLEASE TAKE NOTICE, that in accordance with applicable provisions of the Uniform Commercial Code as enacted in New York, by virtue of certain Events of Default under that certain Pledge and Security Agreement dated as of November 6, 2023 (the “Pledge Agreement”), executed and delivered by HENDEL GOLD and MOSES GOLD (collectively, the “Pledgor”), and in accordance with it rights as holder of the security, 50 EMMETT GV LLC (“Secured Party”), by virtue of possession of those certain Membership Interest Certificates held in accordance with Article 8 of the Uniform Commercial Code of the State of New York (the “Code”), and by virtue of those certain UCC-1 Filing Statement made in favor of Secured Party, all in accordance with Article 9 of the Code, Secured Party will offer for sale, at public auction: (i) all of Pledgor’s right, title, and interest in and to the following: EMMETT GROUP LLC (the “Pledged Entity”), and (ii) certain related rights and property relating thereto (collectively, (i) and (ii) are the “Collateral”). Secured Party’s understanding is that the principal asset of the Pledged Entity is the premises located at 50 Emmett Street and Tax Assessor’s Lot 70A Emmett Street, Bristol, CT (the “Property”).

Mannion Auctions, LLC (“Mannion”), under the direction of Matthew D. Mannion or William Mannion (the “Auctioneer”), will conduct a public sale consisting of the Collateral (as set forth in Schedule A below), via online bidding, on May 30, 2024 at 3:30pm, in satisfaction of an indebtedness in the approximate amount of $5,926,111.31, including principal, interest on principal, and reasonable fees and costs, plus default interest through May 30, 2024, subject to open charges and all additional costs, fees and disbursements permitted by law.  The Secured Party reserves the right to credit bid.

Online bidding will be made available via Zoom Meeting. Meeting link: https://bit.ly/50EmmettUCC (URL is case sensitive); Meeting ID: 839 8584 4234; Passcode: 745473; One Tap Mobile: +16469313860,,83985844234#,,,,*745473# US; Dial by your location: +1 646 931 3860 US

Bidder Qualification Deadline: Interested parties who intend to bid on the Collateral must contact Greg Corbin (“Corbin”), at Northgate Real Estate Group, 433 Fifth Avenue, 4th Floor, New York, NY 10016, (212) 419-8101, [email protected],  to receive the Terms and Conditions of Sale and bidding instructions by May 28, 2024 at 3:30pm. Upon execution of a standard confidentiality and non-disclosure agreement, additional documentation and information will be available.  Interested parties who do not contact Corbin and qualify prior to the sale will not be permitted to enter a bid.

SCHEDULE A: Pledged Interest: PLEDGOR: HENDEL GOLD, an individual, ISSUER: EMMETT GROUP LLC, a Connecticut limited liability company. INTERESTS PLEDGED: 50% membership interest. PLEDGOR: MOSES GOLD, an individual. ISSUER: EMMETT GROUP LLC, a Connecticut limited liability company. INTERESTS PLEDGED: 50% membership interest. The UCC1 was filed on November 15, 2023, with the New York Department of State under the Filing No. #202311150429355.

KRISS & FEUERSTEIN LLP, Attn:  Jerold C. Feuerstein, Esq., Attorneys for Secured Party, 360 Lexington Avenue, Suite 1200, New York, New York 10017, (212) 661-2900

About DailyDAC

DailyDAC™ is the internet's oldest, most trusted, and most widely used provider of public notices of asset sales and case commencements, and other important notices involving companies in financial distress in the United States and Canada. DailyDAC™ public notices are used by bankruptcy trustees, chapter 11 debtors in possession, federal and state court receivers, assignees for the benefit of creditors, auctioneers, and secured parties disposing of their collateral under the Uniform Commercial Code or other state law trust (and their respective auction firms, law firms, and other agents). Learn more.

Many sales of distressed companies and distressed business assets are not widely advertised. If you are buyer of such companies or assets, you may be well served by becoming a paying subscriber to Distressed Deal Data™. Find out more.

The DailyDAC Editors
>