Case BFK Doc 71 Filed 04/24/15 Entered 04/24/15 16:03:02 Desc Main Document Page 1 of 2

Transcription

1 Case BFK Doc 71 Filed 04/24/15 Entered 04/24/15 16:03:02 Desc Main Document Page 1 of 2 UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF VIRGINIA Alexandria Division In re: ) ) Pinkberry Midatlantic, LLC ) Case No BFK ) Chapter 7 Debtor. ) ) NOTICE OF MOTION AND HEARING THEREON Klinette H. Kindred, Chapter 7 Trustee, by and through her counsel, has filed a Motion to Sell assets of Pinkberry Midatlantic, LLC. Your rights may be affected. You should read these papers carefully and discuss them with your attorney, if you have one in this bankruptcy case. (If you do not have an attorney, you may wish to consult one.) If you do not want the Court to grant the Motion, or if you want the Court to consider your views on the Motion, then on or before May 12, 2015, you or your attorney must: 1. File with the Court, at: Clerk of Court United States Bankruptcy Court 200 South Washington Street a written objection as required by Local Bankruptcy Rule (H). You must also mail a copy to the following: Gregory H. Counts Tyler, Bartl, Ramsdell & Counts, P.L.C. 300 N. Washington St., Suite 202 Unless a written response and supporting memorandum are filed and served by the date specified, the Court may deem any opposition waived, treat the Motion as conceded, and issue an order granting the Motion without further notice or hearing. If you mail your response to the Court for filing, you must mail it early enough so the Court will receive it on or before the date stated above. 2. Attend the hearing scheduled to be held on May 19, 2015 at 9:30 a.m. in Courtroom 3, United States Bankruptcy Court, 200 S. Washington St.,.

2 Case BFK Doc 71 Filed 04/24/15 Entered 04/24/15 16:03:02 Desc Main Document Page 2 of 2 If no timely response has been filed opposing the relief requested, the Court may grant the relief without holding a hearing. If you or your attorney do not take these steps, the Court may decide that you do not oppose the relief sought in the Motion and may enter an order granting it. /s/ Gregory H. Counts Gregory H. Counts, VA Bar #46771 Tyler, Bartl, Ramsdell & Counts, P.L.C. 300 N. Washington Street, Suite 202 Tel: Fax: gcounts@tbrclaw.com Counsel for the Trustee CERTIFICATE OF SERVICE I hereby certify that the foregoing was sent via first class mail, postage prepaid, or electronically via CM/ECF on this 24th day of April, 2015 to all parties in interest on the list attached to the court filing, plus: BidWithUs, LLC c/o Kevin Chanberlin Kialani Drive Hagerstown, MD Auction Markets, LLC c/o Stephen Karbelk stephen@auctionmarkets.com (electronically via ) /s/ Gregory Counts Gregory H. Counts

3 Case BFK Doc 70 Filed 04/24/15 Entered 04/24/15 16:01:34 Desc Main Document Page 1 of 3 UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF VIRGINIA Alexandria Division In re: ) ) Pinkberry Midatlantic, LLC ) Case No BFK ) Chapter 7 Debtor. ) ) TRUSTEE S MOTION TO APPROVE SALE Klinette H. Kindred, Chapter 7 Trustee, in the above captioned matter, by counsel, respectfully applies to this Court for approval to sell assets of the Debtor, and as grounds states the following: 1. Pinkberry Midatlantic, LLC (The Debtor ) filed the instant chapter 7 bankruptcy on December 26, 2014 in the Alexandria division of the Eastern District of Virginia. 2. Klinette H. Kindred, Chapter 7 Trustee (hereafter, the Trustee ), has agreed, subject to bankruptcy court approval, to sell the assets listed on the attached Schedule A (hereafter, the Assets ) to BidWithUs, LLC (hereafter, the Buyer ) for Eight Thousand Five Hundred Dollars ($8,500.00). The Buyer paid a deposit of One Thousand Seven Hundred Dollars ($1,700.00). Schedule A is attached to this Motion. The Asset Purchase Agreement is attached to the Court filing and a copy may be obtained from Gregory H. Counts, counsel to Trustee. 3. The Trustee is aware of two liens against the Assets, specifically Carlyle/Cypress Leesburg I, LLC and Public Storage. This sale is contingent upon Carlyle/Cypress Leesburg I, LLC and Public Storage releasing their liens. 4. Public Storage shall be paid at closing for its post-petition administrative rent

4 Case BFK Doc 70 Filed 04/24/15 Entered 04/24/15 16:01:34 Desc Main Document Page 2 of 3 claim through May, 2015 in the approximate amount of One Thousand Three Hundred and Fifty-Five Dollars and no cents ($1,355.00), thereby satisfying its lien. 5. The trustee has engaged Auction Markets, LLC (hereafter, the Sales Agent ) as the sales agent for the bankruptcy estate. The Sales Agent shall be paid at closing in accordance with the terms outlined in his employment application, which are a 10% commission which equals $850 plus $250 in marketing costs. 6. Carlyle/Cypress Leesburg I, LLC has agreed to release its lien in exchange for Fifty Per Cent (50%) of the Net Proceeds. The Net Proceeds shall be calculated AFTER payment of the storage fees to Public Storage, the Sales Agent and the trustee s commission. For purposes of this calculation, the trustee s commission is being stipulated at 5% of the sale price, which is $425. In Summary: Sale Price $8,500 Public Storage -$1, (est.) Sale Agent -$1,200 Trustee s Commission -$425 (stipulated) NET PROCEEDS $5, The Trustee believes that this Sale is in the best interests of creditors and the bankruptcy estate. WHEREFORE, the trustee prays that this Court enter an Order A. Approving the sale to BidWithUs, LLC for Eight Thousand Five Hundred Dollars ($8,500.00). B. Approving payment of the secured claim of Public Storage at closing. C. Approving payment of $1,200 to Auction Markets, LLC at closing. D. Approving payment of one half of the net proceeds to secured creditor

5 Case BFK Doc 70 Filed 04/24/15 Entered 04/24/15 16:01:34 Desc Main Document Page 3 of 3 Carlyle/Cypress Leesburg I, LLC at closing. E. Any other and further relief as this court deems just and appropriate. RESPECTFULLY SUBMITTED, Dated: 4/24/2015 /s/ Gregory Counts Gregory H. Counts, VSB Tyler, Bartl, Ramsdell & Counts, PLC 300 N. Washington Street, Suite 202 Tel: Fax: Gcounts@tbrclaw.com Counsel to Chapter 7 Trustee CERTIFICATE OF SERVICE I hereby certify that the foregoing was sent via first class mail, postage prepaid, or electronically via CM/ECF on this 24th day of April, 2015 to all parties in interest on the list attached to the court filing, plus: BidWithUs, LLC c/o Kevin Chanberlin Kialani Drive Hagerstown, MD Auction Markets, LLC c/o Stephen Karbelk stephen@auctionmarkets.com (electronically via ) /s/ Gregory Counts Gregory H. Counts

6 Case BFK Doc 70-1 Filed 04/24/15 Entered 04/24/15 16:01:34 Desc List of Assets Being Sold Page 1 of 1