Bankruptcy Case #21-02058
Holly Nguyen & Son Le
Bankruptcy Hearing/Sale: Telephonic May 17, 2021 10:00 am (see call-in instructions below)
Through the Sale Motion, the Trustee seeks to sell the estate’s redemption rights (“Redemption Rights”) for the real property located at 2508 W. Barbie Lane (“Real Property”), pursuant to 11 U.S.C. § 363(b). The Trustee also seeks to sell the estate’s rights in approximately $73,510 (“Deposited Funds”) stemming from the Sherrif’s sale of the Real Property. The Trustee received an offer from Steve Villareal of Sunstate Property Acquisitions LLC (the “Buyer”) to purchase the Redemption Rights and Deposited Funds for $175,000. The Redemption Rights may expire on May 22, 2021, so the matter is being heard on an expedited basis.
Any competing bidder must provide the Trustee proof of their financial ability to purchase the estate’s interest in the Redemption Rights and the estate’s interest in the Deposited Funds plus an Earnest Money Deposit of $25,000 in certified funds made payable to “David A. Birdsell, Trustee” prior to the hearing on this Sale Motion (“Sale Hearing”). In the event the successful bidder at the Sale Hearing fails to timely close the sale, said bidder’s Earnest Money Deposit shall be forfeited and deemed property of the bankruptcy estate, pursuant to 11 U.S.C. § 541. The sale shall close on or before May 21, 2021.
The sale is on an “as is, where is” basis with no warranties of any nature to any buyer by the Trustee, the bankruptcy estate, the Trustee’s professionals, representatives, agents and counsel, including Witthoft Derksen, and such sale is subject to any and all existing conditions.
Call-in instructions: all parties shall appear telephonically by calling (877) 402-9757 access code 4376956, several minutes before the
hearing. Please send a courtesy notice to Courtroom Deputy Margaret Kelly at psecfhearing@azb.uscourts.gov to confirm your appearance.