Receivership Assets To Be Sold At Auction: Notice Of Public Auction Of Real And Personal Property

Nov 19, 2013, 18:13 ET from Iron Horse Auction Company, Inc.

ROCKINGHAM, N.C., Nov. 19, 2013 /PRNewswire/ -- KENNETH D. BELL, in his capacity as the Court-appointed receiver for Rex Venture Group, LLC, in Case No. 3:12-CV-519, pending in the United States District Court for the Western District of North Carolina, Charlotte Division, hereby posts, pursuant to 28 U.S.C. Sections 2001, 2002 and 2004, this notice of his intention to sell to the highest qualified bidder(s) the following real property:

  1. An office building and attached laundromat at 801 and 803 West Center Street, Lexington, Davidson County, NC; Tax PIN: 6725-02-59-4801; Deed Book 2041, Page 2402.
  2. A warehouse at 4095 Old Salisbury Road, Lexington, Davidson County, NC; Tax PIN: 6714-01-05-4777; Deed Book 2055, Page 1992.

The Receiver will also sell personal property of the Receivership Defendant. 

These properties will be sold at public auction to be held on the 16th day of December, 2013, at 12:00 p.m. at 4095 Old Salisbury Rd., Lexington, Davidson County, North Carolina. The auction of these properties will be in conjunction with the personal property auction that will be held the 16th and 17th of December, 2013 commencing at 9:00 a.m. both days.

All sales will be for cash or cash equivalents.

All sales will be free and clear of all liens, claims or encumbrances. 

The successful bidder(s) for the parcels of real property will be required to submit a deposit of 20 percent of the final contract purchase price within 24 hours of the auction, either by cashier's check, company or personal check accompanied by a bank letter of guarantee, or electronic funds transfer, with the balance due within 30 days after the date of approval by the Receiver. The party who submits the second-highest bid must agree that their bid will be irrevocable until the earlier of: (a) 60 days after the auction; or (b) the closing of the sale to the successful bidder. Sales will be "AS IS" and "WHERE IS" with no representations or warranties of any type, and will close no later than 30 days after the date of approval by the Receiver.

The Receiver reserves the right to postpone or adjourn the auction, to accept any bid or to reject any and all bids that he deems not to be in the best interests of the Receivership Estate, or to withdraw any of the real or personal properties at any time prior to the announcement of the completion of the auction. The Receiver's acceptance of any bid is expressly conditioned on the successful bidder executing a purchase and sale agreement or bill of sale in form and content satisfactory to the Receiver.

For additional information, including descriptions of the real and personal property to be auctioned and further information regarding auction procedures such as bidder qualifications and fee schedules, please visit the Receivership website (, the RVG Auction website   ( and ), or contact Iron Horse Auction Company at (800) 997-2248 or (910) 997-2248.

Dated:  November, 19 2013  


/s/ Kenneth D. Bell

Kenneth D. Bell, Esq., Receiver



201 North Tryon Street

Suite 3000 Charlotte, NC 28202

Telephone: 704-343-2000

Facsimile: 704-343-2300

For more information call Will Lilly, 910-997-2248 or visit our website at

SOURCE Iron Horse Auction Company, Inc.