AWARD HOLDINGS, LLC

Auction by: Maltz Auctions

UCC Foreclosure Auction

All Assets of Award Holdings, LLC

Online Bidding Only

Began: Friday, July 31, 2020 at 6:00 AM EDT

Ended: Friday, July 31, 2020 at 10:05 AM EDT

Details

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UCC Foreclosure Auction

All Assets of Award Holdings, LLC

  

Details

All right, title, and interest of the Mailman Trust (the “Debtor”) in and to (i) all of the membership interests in Award Holdings LLC (“Awards”), and all distributions, cash, instruments and other property from time to time received, receivable, or otherwise distributed in respect of or in exchange for any or all of such membership interests, together with all voting rights, claims, powers, privileges, benefits, remedies, options, and rights of any nature which now or hereafter exist with respect to or on account of such membership interests, including all such items under or pursuant to the documents and agreements relating to the formation, organization, and governance of Awards; and (ii) all proceeds of any of the foregoing (collectively referred to as the “Collateral“).

Entity Overview

Award Holdings LLC holds indirect minority interests in various assets in the hospitality industry, including certain restaurants and hotels.

Auction Date & Time:  July 31, 2020 at 10:00 am EST.

Auction Location:  Online bidding, at the direction of Maltz Auctions (the “Auctioneer”).

Terms and Conditions of Sale:  

To qualify to bid, all prospective bidders must contact counsel for the Secured Party (Merchants Hospitality, Inc.) at [email protected] and [email protected] before 4:00 pm EST on Thursday, July 30, 2020 and provide current contact information and such adequate assurance of bidder’s ability to perform as Secured Party may reasonably request, as well as an Executed Terms & Conditions of Sale along with a $50,000 refundable deposit (to be submitted via wire transfer).

Potential bidders who execute a confidentiality agreement acceptable to the Secured Party and provide a refundable deposit in the amount of $10,000 will be provided access to a “data room” to allow potential bidders to perform due diligence regarding the Collateral.  Potential bidders may also request an opportunity to inspect any physical asset associated with the Collateral by sending emails to the above-referenced email addresses or by calling 212-202-2600.

The highest qualified bidder will be required to make a non-refundable deposit of ten (10) percent of the purchase price with Sher Tremonte LLP at the time of sale by bank check or electronic funds transfer.  Prior deposits made to access the data room or qualify as a bidder may be applied for this purpose.  The balance of the purchase price must be paid within ten (10) days thereafter.

  • Please download the Global Public Sale Notice.

 

Sher Tremonte LLP, Attorneys for the Secured Party
 Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
Phone (516) 349-7022  Fax (516) 349-0105

*Maltz Auctions, Inc. Exclusively Acting in Capacity as Marketing Agent for Secured Party

These assets are being sold on an “AS IS, WHERE IS” basis, and no warranty or representation, either expressed or implied, concerning the asset is made by the Seller, Auction Company or any of their Agents. Maltz is acting exclusively as marketing agent for the Secured Party.  The information contained herein was derived from sources deemed reliable, but is not guaranteed.  Most of the information provided has been obtained from third-party sources and has not been independently verified.  It is the responsibility of the Buyer and/or Buyer’s Broker to determine the accuracy of all components of the sale and asset.    Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Property, including without limitation, environmental and physical condition of the asset.  All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction.

Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution. 

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