Bankruptcy Auction – United States Bankruptcy Court Eastern District of New York
In Re: Corsi Cab Corp., et al. – Case # 18-47204-nhl
2 NYC Taxi Medallions
Details:
Pre-Registration Required to Bid: You must send in signed Terms & Conditions of Sale, signed Online Bidding Form and a $50,000 deposit to be approved for bidding. Acceptable forms of deposit are cashier’s check, postal money order, and wire transfer (funds must be received at least 24 hours prior to the scheduled end time of the auction or you may not be approved to bid prior to the scheduled conclusion of the auction).
Auction Date: Online-Only Bidding will open Monday, July 26, 2021 at 11:00 am and is scheduled to close on Wednesday, July 28, 2021 at 11:00 am. Visit RemoteBidding.MaltzAuctions.com or download the Maltz Auctions App on the Apple Store or Google Play.
Bidding Process: If a bid is placed with less than one minute remaining, the bidding period will be extended so one minute remains for competing bids to be entered. If any further bidding occurs, the extension timer will reset to one minute. Once no further bidding activity occurs, the sale closes when the time runs out.
Terms & Conditions of Sale: The Chapter 11 Debtor & Debtor in Possession, through Maltz, received and accepted a $162,000 offer, the next acceptable bid at the auction will be $170,000. Medallions will be sold free and clear of all monetary liens. In order to register to bid, all prospective bidders must present a cashier’s check in the amount of $50,000 to bid, made payable to “Rosenberg, Musso & Weiner, LLP, As Attorneys”, signed Terms & Conditions of Sale and signed Online Bidding Form to Maltz Auctions at 39 Windsor Place, Central Islip, NY 11722 twenty-four hours prior to the scheduled close of bidding. Please download the complete Terms and Conditions of Sale.
Buyer’s Premium: A six percent (6%) 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.
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Richard B. Maltz, Auctioneer
David A. Constantino, Auctioneer
Richard B. Maltz, Licensed Real Estate Broker
Rosenberg Musso & Weiner, Attorneys for Chapter 11 Debtor & Debtor in Possession
By delivering their respective Offers and/or Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Medallions, the state of title thereof and laws, rules and regulations applicable thereto, and will rely solely thereon and on their own independent investigations and inspections of the Medallions in making their bids. Neither Maltz, the Chapter 11 Debtor & Debtor in Possession, nor any of their collective representatives makes any representations or warranties with respect to the permissible uses, quantity or condition of the Medallions. All Bidders acknowledge that they have conducted their own due diligence in connection with the Medallions and are not relying on any information provided by Maltz, the Chapter 11 Debtor & Debtor in Possession, or their professionals. 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 to determine the accuracy of all components of the sale and Medallions. Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Medallions, including without limitation physical attributes of the Medallions. All prospective bidders are urged to conduct their own due diligence prior to submitting an offer. Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.