Asset Sales Databank - 10th Circuit

In re Patrick Knoell, Case No. 12-12474-HRT (D. Colo. Feb. 15, 2012)

Mon, 26 Aug 2013 16:03:21 +0000

Status:

Completed

Judge:

Tallman

Sale of Substantially All Assets:

Description of Assets:

Primary residence of individual debtor

6 years 3 weeks ago

Bid Procedures Approval Date:

Wed, 2012-12-26

Date of Sale:

Mon, 2013-01-07

Sale Approval Date:

Thu, 2013-01-17

Price Range:

500K - 1M

Proposed Sale Price:

$513,000

Stalking Horse:

Yes

If yes, who?:

Erik and Amy Skagen

Credit Bid:

Initial Over Bid Requirement and Bid Increment Data:

$3,000

Was Break-up fee allowed?:

N/A

Objection Filed to Proposed Terms:

Proposed Terms Modified:

Purchaser:

Erik and Amy Skagen

Actual Sale Price:

$513,000

Submitter and Affiliation:

Greg Capone, Weil, Gotshal & Manges LLP

Today's Date:

Mon, 2013-08-26

In re Southern Oaks of Oklahoma LLC, Docket No. 12-10356 (Bankr. W.D. Okla. Jan. 31, 2012)

Thu, 08 Aug 2013 20:59:27 +0000

Status:

Completed

Link to Docket:

Click here

Judge:

Jackson

Sale of Substantially All Assets:

Description of Assets:

A 100 unit apartment complex in Pryor, Oklahoma known as Prairie Village Apartments

6 years 16 weeks ago

Bid Procedures Approval Date:

Mon, 2012-10-22

Bid Deadline:

Tue, 2012-11-06

Date of Sale:

Fri, 2012-11-09

Sale Approval Date:

Tue, 2012-11-13

Price Range:

1M - 5M

Proposed Sale Price:

Credit bid of $1,500,000

Stalking Horse:

If yes, who?:

Plumb, Romney and Brockbank (PRB) entered into a stalking horse agreement with the Debtor to purchase the property for $1,600,000. However, PRB terminated its agreement with the Debtor after the Bid Procedures Motion was filed. The Agreement was terminated based on PRB’s contention that certain capital improvements to the property were not made and disputes over bills related to the property. No other stalking horse was named after the initial stalking horse terminated its agreement.

Credit Bid:

Yes

If yes, identify capital stack position of debt:

Interbank is a secured lender holding the first mortgage on the Prairie Village Apartments and submitted a credit bid of $1,500,000 for the property

Qualified Bidder Requirements:

Qualified bidder must propose a bid comprised of cash.

Supplemental Bid Requirements:

Bidder must provide satisfactory evidence of its ability to perform and provide adequate assurance of future performance for any contracts assigned to it, and disclose connections, if any, with the seller. Bidder may not request break up fee, expense reimbursement, or similar type of payment.

Due Diligence Limitations:

Qualified bids must not be contingent on any due diligence investigation or the receipt of financing.

Required Deposit:

Cash deposit of $25,000

Initial Over Bid Requirement and Bid Increment Data:

Each subsequent bid must be in increments of $25,000 in cash

Bid Protections (including break up fees, cost reimbursements, etc.):

Not applicable

Bid protections as percent of proposed price:

Not applicable

Was Break-up fee allowed?:

N/A

Objection Filed to Proposed Terms:

Yes

If yes, provide details:

Interbank, the holder of the mortgage on the Prairie Village Apartments, filed a limited objection to the Bid Procedures Motion stating, among other things, that the Debtor could use the threat of not going forward with the sale to force the bank to take a reduced recovery (i.e., settle for a reduced purchase price) on its collateral. The Office of the United States Trustee filed a limited objection requesting that the Debtor clarify whether or not the sale included a break up fee and expense reimbursement to be paid to the stalking horse. PRB objected to the sale in light of it having terminated its stalking horse agreement with the Debtor. The objection stated that the Debtor and PRB disputed each party’s right to the deposit held in escrow by the Debtor.

Proposed Terms Modified:

Purchaser:

Interbank

Actual Sale Price:

$1,500,000

Submitter and Affiliation:

Abigail Zigman, Weil, Gotshal & Manges LLP

Today's Date:

Thu, 2013-08-08

In re Norton Retirement and Assisted Living, LLC d/b/a Whispering Pines (Case No. 12-40080-11)

Thu, 01 Aug 2013 18:32:33 +0000

Status:

Completed

Judge:

Miller Karlin

Sale of Substantially All Assets:

Description of Assets:

Certain Real Property Parcels

6 years 48 weeks ago

Date of Sale:

Thu, 2012-02-02

Sale Approval Date:

Thu, 2012-02-02

Price Range:

0-250K

Proposed Sale Price:

$30,000

Stalking Horse:

N/A

Credit Bid:

N/A

Was Break-up fee allowed?:

N/A

Objection Filed to Proposed Terms:

Proposed Terms Modified:

Purchaser:

Wilson Carter Printers, Inc. and Garrett Plumbing, Heating & Electric, LLC

Actual Sale Price:

$30,000

Submitter and Affiliation:

Andrea C. Saavedra, Weil, Gotshal & Manges LLP

Today's Date:

Thu, 2013-08-01

In re Clark, Docket No. 07-21588 (Bankr. D. Colo. Oct. 11, 2007)

Tue, 21 Jun 2011 21:21:04 +0000

Status:

Completed

Link to Docket:

Click here

Description of Assets:

1987 17-ft Bayliner boat and trailer for boat.

11 years 12 weeks ago

Price Range:

0-250K

Bid Protection Ratio:

N/A

Qualified Bidder Requirements:

None

Supplemental Bid Requirements:

None

Due Diligence Limitations:

N/A

Required Deposit:

None.

Initial Over Bid Requirement and Bid Increment Data:

None.

Bid Protections (including break up fees, cost reimbursements, etc.):

None.

Bid protections as percent of proposed price:

N/A

Procedures concerning contracts and leases (§365):

None.

Objection Filed to Proposed Terms:

Proposed Terms Modified:

Actual Sale Price:

$500.00

Reported Decision:

None

Submitter and Affiliation:

Steven J. Reisman, Curtis, Mallet-Prevost, Colt & Mosle LLP

Today's Date:

Tue, 2011-06-21

In re Collins Cashway Lumber, Inc., Docket No. 07-21866 (Bankr. D. Col. Oct. 18, 2007)

Tue, 21 Jun 2011 21:01:56 +0000

Status:

Completed

Link to Docket:

Click here

Description of Assets:

640 acres of farmland

11 years 11 weeks ago

Price Range:

250K - 500K

Proposed Sale Price:

$352,000

Bid Protection Ratio:

N/A

Qualified Bidder Requirements:

None - Private sale between Debtor and purchaser.

Supplemental Bid Requirements:

None

Due Diligence Limitations:

None

Required Deposit:

$33,600

Initial Over Bid Requirement and Bid Increment Data:

None

Bid Protections (including break up fees, cost reimbursements, etc.):

None

Bid protections as percent of proposed price:

N/A

Procedures concerning contracts and leases (§365):

Debtor will assume and assign its contracts with respect to the Conservation Reserve Program to the purchaser.

Objection Filed to Proposed Terms:

Proposed Terms Modified:

Actual Sale Price:

$352,000

Reported Decision:

None

Submitter and Affiliation:

Steven J. Reisman, Curtis, Mallet-Prevost, Colt & Mosle LLP

Today's Date:

Tue, 2011-06-21

In re Cirkovic, Docket No. 07-21928 (Bankr. D. Colo. Oct. 18, 2007)

Tue, 21 Jun 2011 20:47:19 +0000

Status:

Completed

Link to Docket:

Click here

Description of Assets:

2003 Coleman pop-up camper

11 years 11 weeks ago

Price Range:

0-250K

Proposed Sale Price:

$2,000

Bid Protection Ratio:

N/A

Qualified Bidder Requirements:

None.

Supplemental Bid Requirements:

None.

Due Diligence Limitations:

N/A

Required Deposit:

None.

Initial Over Bid Requirement and Bid Increment Data:

None.

Bid Protections (including break up fees, cost reimbursements, etc.):

None.

Bid protections as percent of proposed price:

N/A

Procedures concerning contracts and leases (§365):

None.

Objection Filed to Proposed Terms:

Proposed Terms Modified:

Actual Sale Price:

$1,500

Reported Decision:

None

Submitter and Affiliation:

Steven J. Reisman, Curtis, Mallet-Prevost, Colt & Mosle LLP

Today's Date:

Tue, 2011-06-21

In re Tonn, Docket No. 1:07-bk-22032 (Bankr. D. Colo. Oct. 22, 2007)

Tue, 21 Jun 2011 20:25:51 +0000

Status:

Completed

Link to Docket:

Click here

Description of Assets:

Boat and trailer.

11 years 10 weeks ago

Price Range:

0-250K

Proposed Sale Price:

None.

Bid Protection Ratio:

N/A

Qualified Bidder Requirements:

None.

Supplemental Bid Requirements:

None.

Due Diligence Limitations:

N/A

Required Deposit:

None.

Initial Over Bid Requirement and Bid Increment Data:

None.

Bid Protections (including break up fees, cost reimbursements, etc.):

None.

Bid protections as percent of proposed price:

N/A

Procedures concerning contracts and leases (§365):

None.

Objection Filed to Proposed Terms:

Proposed Terms Modified:

Actual Sale Price:

$1900

Reported Decision:

None

Submitter and Affiliation:

Steven J. Reisman, Curtis, Mallet-Prevost, Colt & Mosle LLP

Today's Date:

Tue, 2011-06-21

In re Deborah Jean Ford, Docket No. 07-22353 (Bankr. D. Col. Oct. 26, 2007)

Tue, 21 Jun 2011 19:23:12 +0000

Status:

Completed

Link to Docket:

Click here

Description of Assets:

18’ Fleetwood Camp Trailer

11 years 9 weeks ago

Price Range:

0-250K

Proposed Sale Price:

None

Bid Protection Ratio:

N/A

Qualified Bidder Requirements:

None - Public auction conducted on auctioneer's premises.

Supplemental Bid Requirements:

None

Due Diligence Limitations:

None

Required Deposit:

None

Initial Over Bid Requirement and Bid Increment Data:

None

Bid Protections (including break up fees, cost reimbursements, etc.):

None

Bid protections as percent of proposed price:

N/A

Procedures concerning contracts and leases (§365):

None

Objection Filed to Proposed Terms:

Proposed Terms Modified:

Actual Sale Price:

$7,200

Reported Decision:

None

Submitter and Affiliation:

Steven J. Reisman, Curtis, Mallet-Prevost, Colt & Mosle LLP

Today's Date:

Tue, 2011-06-21

In re Lyudmyla NMN Seibel, Docket No. 07-22369 (Bankr. D. Col. Oct. 26, 2007)

Tue, 21 Jun 2011 18:55:53 +0000

Status:

Completed

Link to Docket:

Click here

Description of Assets:

2008 Toyota Corolla

11 years 9 weeks ago

Price Range:

0-250K

Proposed Sale Price:

None

Bid Protection Ratio:

N/A

Qualified Bidder Requirements:

None - Public auction conducted on auctioneer's premises.

Supplemental Bid Requirements:

None

Due Diligence Limitations:

None

Required Deposit:

None

Initial Over Bid Requirement and Bid Increment Data:

None

Bid Protections (including break up fees, cost reimbursements, etc.):

None

Bid protections as percent of proposed price:

N/A

Procedures concerning contracts and leases (§365):

None

Objection Filed to Proposed Terms:

Proposed Terms Modified:

Actual Sale Price:

$13,000

Reported Decision:

None

Submitter and Affiliation:

Steven J. Reisman, Curtis, Mallet-Prevost, Colt & Mosle LLP

Today's Date:

Tue, 2011-06-21

In re Scott Edwin Tatum, Docket No. 07-13990 (Bankr. W.D. Okla. Oct. 31, 2007)

Tue, 21 Jun 2011 18:34:52 +0000

Status:

Completed

Link to Docket:

Click here

Description of Assets:

.56 acres of real property

11 years 9 weeks ago

Price Range:

0-250K

Proposed Sale Price:

$1,500

Bid Protection Ratio:

N/A

Qualified Bidder Requirements:

None - Private sale between chapter 7 trustee and purchaser.

Supplemental Bid Requirements:

None

Due Diligence Limitations:

None

Required Deposit:

None

Initial Over Bid Requirement and Bid Increment Data:

None

Bid Protections (including break up fees, cost reimbursements, etc.):

None

Bid protections as percent of proposed price:

N/A

Procedures concerning contracts and leases (§365):

None

Objection Filed to Proposed Terms:

Proposed Terms Modified:

Actual Sale Price:

$1,500

Reported Decision:

None

Submitter and Affiliation:

Steven J. Reisman, Curtis, Mallet-Prevost, Colt & Mosle LLP

Today's Date:

Tue, 2011-06-21