GemCap Lending I, LLC to Auction the Equipment and Intellectual Property of Zacky & Sons Poultry, LLC. Via Public Sale
MALIBU, Calif., Nov. 5, 2018 /PRNewswire/ -- Pursuant to Section 9-610 of the Uniform Commercial Code, GemCap Lending I, LLC (the "Secured Party" will hold a secured party public sale to the highest and best bidder for cash, with reserve, to be conducted telephonically by the Secured Party on Thursday, November 15, 2018 at 9:00 a.m. Pacific Standard Time (the "Public Sale"). Qualified Bidders (defined below) may attend the Public Sale telephonically.
The Secured Party has a first priority perfected lien and security interest in and to all of the personal property assets of ZACKY & SONS POULTRY, LLC, a California limited liability company (the "Borrower"). The Secured Party's collateral subject to the Public Sale will be limited to (i) certain machinery and equipment owned by the Borrower, including, without limitation, all furniture, trade fixtures, computer equipment, telephone equipment, molds, tools, dies, partitions, tooling, transportation equipment, rolling stock, all other tangible assets used in connection with the manufacture, sale or lease of goods or rendition of services all as set forth on the schedule prepared by Secured Party (collectively, the "FF&E"), (ii) the following trademarks and tradenames: ZACKY FARMS; ZACKY FARMS (STYLIZED); THE CALIFORNIAN; TENDER GOLD; SAMUEL'S RANCH; INTERNATIONAL POULTRY; LILLIANZ RANCH; THE WESTERNER; QUICK'N LEAN; TENDER GOLD; POPPY; SOUP'R CHICKEN; CULINARY CLASSICS; INTERNATIONAL POULTRY; and ZACKY (collectively, the "Trademarks"), (iii) the following domain names: www.zacky.com; and www.zackyfarms.com (collectively, the "Domain Names"), and (iv) Borrower's customer lists (collectively, the "Customer Lists"). The FF&E, Trademarks, Domain Names and Customer Lists are collectively referred to as the "Public Sale Collateral".
The Secured Party is conducting the Public Sale to foreclose the lien and security interest held by the Secured Party in and to the Public Sale Collateral. At the Public Sale, all of Borrower's right, title and interest in and to the Public Sale Collateral will be sold "as is" and "where is" and the Secured Party shall make no representation or warranty, either express or implied, relating to title, use, quiet enjoyment, possession, merchantability or fitness for a particular purpose, completeness, condition or the like, all of which are hereby disclaimed, in the sale or disposition of the Public Sale Collateral. In addition, the Public Sale Collateral is being sold (i) free and clear of Secured Party's liens and any subordinate security interests, and (ii) without recourse to Secured Party, its attorneys and representatives. The Public Sale of the Public Sale Collateral, if made, shall be to the highest and best bidder.
In order to participate in the bidding process, each person or entity (a "Potential Bidder") must deliver to the undersigned counsel to Secured Party (i) an executed confidentiality agreement in form and substance acceptable to Secured Party, (ii) current financial statements of the Potential Bidder or other evidence acceptable to Secured Party that will show the financial ability of the Potential Bidder to purchase the Public Sale Collateral, (iii) a completed and executed Asset Purchase Agreement in the form provided by Secured Party, and (iv) a deposit in an amount equal to ten percent of the bid amount which will be held in escrow by counsel for Secured Party in its IOLA account. A Potential Bidder that complies with the foregoing requirements shall be deemed a "Qualified Bidder". Those Qualified Bidders participating at the Public Sale shall be provided with the telephone number and passcode to attend the Public Sale and shall be given the opportunity to bid on a competitive basis.
At the Public Sale, each of the FF&E, the Trademarks, the Domain Names and the Customer Lists will be offered for sale in separate lots and the Public Sale Collateral will be offered as a single lot. At the conclusion of the Public Sale, the successful bidder(s) must pay the final bid amount in full by a wire transfer of funds to the Secured Party. The Secured Party reserves the right to credit bid on any or all of the Public Sale Collateral at the Public Sale. The Secured Party reserves the right to reject all bids, adjourn or cancel the Public Sale.
For further details regarding the Public Sale Collateral, obtaining the confidentiality agreement and the form asset purchase agreement, and information regarding the Public Sale, you may contact Cohen Tauber Spievack & Wagner P.C., 420 Lexington Avenue, Suite 2400, New York, NY 10170 Attn: Robert A. Boghosian, Esq., or by email at [email protected] or by telephone at (212) 381-8726.
Media Contact:
David Ellis
[email protected]
310-593-9074
SOURCE GemCap Lending I, LLC
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