Up to 46 NYC TAXI MEDALLIONS

Bid Deadline

09 / 11 / 2017

Monday | 1pm

Details

up to 46 NYC TAXI MEDALLIONS

Minimum of 5 Medallions will be Sold

Bankruptcy Auction - United States Bankruptcy Court Eastern District of New York
In Re: Hypnotic Taxi, LLC, et al - Case # 15-43300(CEC) - Jointly Administered

Gregory Messer, Esq., Chapter 7 Trustee
LaMonica Herbst & Maniscalco, LLP, Attorneys for the Chapter 7 Trustee
Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944

Terms of Sale

Bidder ID & Offer Form

Bidding Details

Asset Summary

  • Overview of Sales Process: This is a two-step bidding process. The first step is the submission of binding, sealed bids that are due Monday, September 11, 2017. The top 7 highest or best Bulk Bids and the top 25 highest or best Individual Bids will be invited to bid at the live auction (subject to the Terms & Conditions of Sale approved by the bankruptcy court) on Monday, September 18, 2017. Please Note: If two equivalent bids are received, the best bidder will be identified as the first bid received.
  • Sealed Bid/Bidder Qualification Deadline: Monday, September 11, 2017 before 1:00 pm. Required Bid Documents (Signed Terms and Conditions of Sale & Bidder Identification and Offer Form) and 15% Deposit (cashier’s check) must be included for consideration. See attached Terms & Conditions of Sale for details or call David Constantino (x205) or Richard Maltz (x202) for additional information.
  • Sealed Bid Delivery Location: Richard Maltz, Maltz Auctions, Inc., 39 Windsor Place, Central Islip, NY 11722; with copies to LaMonica, Herbst & Maniscalco, LLP, Attn: Jacqulyn S. Loftin, Esq., 3305 Jerusalem Avenue, Suite 201, Wantagh, NY 11793.
  • Auction Date & Time: Monday, September 18, 2017 at 11:00 am (Registration commences at 9:30 am). Only Qualified Bidders as defined in the Terms & Conditions of Sale are qualified to participate.
  • Auction Location: New York LaGuardia Marriott Hotel, 102-05 Ditmars Boulevard, East Elmhurst, NY 11369.
  • Terms & Conditions of Sale: Medallions are sold free and clear of all monetary liens. All prospective bidders must include a cashier’s check in the amount of 15% of the bid amount made payable to “Gregory Messer, Chapter 7 Trustee”. The Trustee reserves the right to require potentially qualified bidders to bring an additional deposit (cashier’s check) to the live auction to increase their respective deposit to a total of 15% of the highest sealed bid. Please download the complete Terms & Conditions of Sale.
  • Buyer’s Premium: A six (6%) percent Buyer’s Premium will be added to the Successful Bidder’s high bid to determine the contract price to be paid by the Successful Bidder.
  • Buyer Broker Participation: A two (2%) percent commission will be paid to any properly licensed New York City Medallion Broker who registers a successful buyer in accordance with the Buyer Broker guidelines. Please download the Broker Participation form for details.

Contact



The Trustees, Attorneys for the Trustees and the Auctioneer do not guarantee the accuracy of any of the descriptions or any other information pertaining to the sale of this property. All prospective bidders are urged to do their own due diligence prior to participating in the Public Auction Sale.