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BANKRUPTCY AUCTION
By
Order of US Bankruptcy Court
Southern District of Florida
In
Re: Oceans Casino Cruises, Inc.
Case No: 09-38645-BKC-RBR
In Re: Ventures South Caroline, LLC
Case No: 09-38652-BKC-RBR
In Re: Vessel Casino, Inc.
Case No: 09-38657-BKC-RBR
Sonya L. Salkin, Trustee |
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Auction
No.: 10-017
Auction Conducted At:
647 E. Dania
Beach Boulevard
Dania Beach, Florida 33004
10:00 A.M. - Thursday -
February 25 |
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Terms & Conditions of Sale
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1. BIDDER REGISTRATION:
The auction is open to the public and
all bidders are required to register with the Auctioneer to receive a
Bidder’s Card. Bidder Registration will begin at 8:00 A.M. on auction day.
2. PREVIEWS:
The assets will be available for preview on Wednesday, February 24 from
1:00 PM until 5:00 PM and two hours prior to the auction. All assets are
offered and sold in As-Is condition without warranty of any kind. Bidders
are encouraged to preview the items included in this auction.
3. PAYMENT:
Payment in full is expected at the conclusion of the auction by Cash,
Cashier’s Check or Money Orders. Corporate checks will be accepted when
accompanied by a current Bank Letter (made specifically for this auction and
addressed to National Auction Company) guaranteeing payment and subject to
verification at the time of Bidder’s registration. Bidders who leave the
auction site without paying are required to make a deposit in the minimum
amount of 25% of the purchase price and advise auction staff when they are
returning with the balance due. If no deposit is made, the Bankruptcy
Trustee and/or Auctioneer reserve the right to resell any items purchased
during the auction.
4. FLORIDA SALES TAX:
All sales are subject to rules of the Florida Department of Revenue.
Florida dealers with resale numbers must bring a certificate to the auction
which must be presented at the time of Bidder registration. Florida Sales
Tax for motor vehicles is payable at the time of vehicle registration and
the Motor Vehicle Title is transferred. Bills of Sale issued on behalf of
the Bankruptcy Trustee will include the top bid price in addition to the 10%
Buyer’s Premium
5. FORM of AUCTION:
The auction is conducted by Order of the United States Bankruptcy Court
in accordance with the terms and conditions set forth in the order of the
Court. It is the intension of the Trustee, Sonya L. Salkin, to sell all
assets to the highest bidders.
6. BUYER’S PREMIUM:
A 10% Buyer’s Premium will be added to all top bid prices and included
in the total purchase price.
7. METHOD of SALE:
(a) The method and order of sale will be at the Auctioneer’s discretion.
(b) Recognition of bid increments will be at the discretion of the
Auctioneer. In the event items are offered and no bids are received, the
Auctioneer may remove them from the order of sale and offer it at a later
time during the auction or regroup them with other items.
(c) The Auctioneer and Bankruptcy Trustee reserve the right to add or delete
any items from the auction.
(d) The terms and conditions of sale may be changed by announcement from the
auction podium. Any such announcement will take precedence over previously
printed materials or oral statements made.
(e) Bids will only be accepted from bidders who have registered with the
Auctioneer.
(f) In the event of disputes between bidders or tie bids, the Auctioneer’s
decision will be final.
(g) The Auctioneer and Bankruptcy Trustee reserve the right to sell the
assets in bulk or by the piece.
(h) The Auctioneer reserves the right to ask for additional deposits from
any bidder during the course of the auction. In the event a deposit is
requested and not given, goods previously sold may be subject to resale at
the option of the Bankruptcy Trustee or Auctioneer.
(i) All information contained in the auction publication, newspaper ads, web
site or furnished by staff members is believed to be correct but is not
guaranteed. Bidders must rely upon their own information, judgment and
inspection of the items being offered.
(j) The auction will be recorded via electronic digital recording devise to
provide a record of this event.
(k) Purchasers (top bidders) are not permitted to resell items purchased
during the auction to third parties or reassign clerking tickets.
8. REMOVAL:
All purchases must be removed from the premises immediately following
the auction after payment in full has been made. The auction site will
remain open on auction day until 5:00 PM and until Sunday, February 28,
2010. If payment is not made in full on the day of the auction, any balance
due must be paid no later than Sunday, February 28. Purchases not removed on
auction day are subject to resale if arrangements have not been made with
auction staff. Check out will not be permitted while the auction is in
progress.
9. MOTOR VEHICLE TITLES:
Please be advised certain motor vehicles are included in this auction,
however, due to the manner in which the company’s operations were ended,
titles to motor vehicles have not been located. Duplicate titles have been
ordered and upon receipt, will be taken to the Bankruptcy Trustee for
execution as the seller.
10. FORMULA/ THUNDERBIRD BOAT
The auction includes a 1995 Formula/Thunderbird 34 foot boat. The boat
has been stored at American Offshore Marina,1451 Old Griffin Road, Dania
Beach, Florida 33004. The boat is stored in one of the dry stack buildings
and is not being offered subject to water test. The top bidder and any
back-up bidders will be required to make a 25% deposit on auction day and
will have 48 hours to preview the boat. As with motor vehicles, the Trustee
does not have a title to this boat, however, a duplicate will be ordered.
11. (24) SHUTTLE BUSSES
As indicated in the auction materials, the Debtor operated a fleet of
shuttle busses to transport casino passengers. All of the Busses have been
seen by the Auctioneer who also started each engine, noted current odometer
mileage and observed the overall condition of each. From a practical
standpoint, it was not possible to transport the busses back to South
Florida. The busses will be offered from the Dania Beach auction site with
top bid prices subject to the confirmation of the Bankruptcy Trustee.
Assuming top bid prices are accepted, purchasers will be required to make a
deposit of 10% of the total bid price. Successful purchasers will have ten
days to preview the busses at the locations in which they are located.
Scheduling of dates and times for previews will be coordinated by the
Auctioneer. Please be advised the Auctioneer is in possession of keys for
all busses. The Auctioneer and Trustee reserve the right to take back-up
offers for the busses. Following preview by top bidders, the balance due is
payable to National Auction Company or to the Trustee within forty eight
hours. Once final payment has been received, motor vehicle titles will be
delivered to the Purchaser (s) with a Bill of Sale.
12. AUCTIONEER CONTACT INFORMATION:
If additional information is needed, please contact George Richards at
(954) 658-5033 (cell) or by e-mail at grichards@natlauction.com. |
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