Trustee Sale. Priced to sell upon court approval.
Please see the NOTICE OF SALE in the link below:
The McKinna 47 is a well designed guality built sedan. The interior has a galley-up floorplan, two staterooms one with queen size berth one with a double berth, two heads that share a common shower stall, optional lower helm, and a large salon with wrap-around windows that provides excellent lighting. The exterior has a well designed flybridge with a extended flybridge deck with storage for the dinghy and dinghy davit. Plus a large cockpit with molded in stairs for easy access to the flybridge. She is powered by a pair of Twin 370 HP Cummins which will cruise at 16 to 17 knots.
This boat is priced to sell in the condition that it is in. Interior needs a lot of detail cleaning and some wood refinishing. Exterior needs a buff and wax but the hull looks great. She has a newer eisinglass enclosure and updated electronics. Engine room is clean with what appears to be little maintenance needing to be done. The boat is fully loaded with everything you need to start cruising. Updated electronics, watermaker (unknown condition), Generator, spare anchor, etc. Built in bait tank and tons of rod holders make it a good fishing boat as well. Please see pictures for details.
Contact Brian Willhite for further information and to schedule an appointment.
Broker Co-op 50/50
Notice of sale link:
(1) Authorizes the Trustee to sell (a) that certain vessel commonly known as Gallowglass, a 2000 McKinna 47' Sedan, documented with the United States Coast Guard as vessel number 1107063 (the "Vessel"), and (b) a 2001 Novurania with 40hp Yamaha outboard, CF 2945 PT, HIN PKD 12391 K001 (the "Tender"), to ART BROOKS SEA CO. and LAGUNA PACIFIC INTL. CO, ATIA (collectively, the "Buyer"), for $120,000, on the terms specified in the Purchase and Sale Agreement (the "Agreement") attached as Exhibit 1 to the Motion, or an approved overbidder making a higher and better offer, with such sale (to either the Buyer or to an approved overbidder) to be on an "AS-IS" and "WHERE-IS" basis, with all faults and without any representation or warranty whatsoever, whether express or implied, including as to seaworthiness, habitability, merchantability, or fitness for a particular purpose (except that the Vessel and Tender are being sold free and clear of all monetary claims, liens, and interests);
(2) Authorizes the Trustee to pay through escrow all usual and customary costs of sale, including without limitation (a) brokers’ commissions of 10%, (b) escrow fees, if any, (c) title insurance fees, if any, (d) recording fees, if any, (e) messenger fees, if any, (f) marina/slip fees through the date of closing, (g) property taxes prorated through the date of closing, and (h) liens of record, in each case (b) - (h) to the extent not disputed by the Trustee;
(3) Determines that, to the extent that any portion of a monetary claim, lien, or interest is disputed by the Trustee and not paid through escrow, such monetary claim(s), lien(s), and/or interest(s) in and to the Vessel and/or Tender shall attach to the sale proceeds with the same validity, force and effect as such monetary claims, liens, and interests had with respect to the Vessel and/or Tender;
Determines that the Agreement was made in good faith in an arm’s-length transaction and that the buyer of the Vessel and Tender (whether the Buyer or a successful overbidder) is acting in good faith within the meaning of 11 U.S.C. § 363(m);
Determines that adequate notice of the hearing on the Motion was given;
Authorizes the Trustee to perform the terms of the Agreement and to sign all such documents that are reasonably necessary to perform the Trustee’s obligations under the Agreement;
Reserves Bankruptcy Court jurisdiction to enforce the Agreement;
Approves the following overbid procedure:
any initial overbid for the Vessel and Tender must be in an amount not less than $125,000 (i.e., $5,000 higher than the proposed purchase price);
(b) in the event that the Trustee receives multiple overbids, any subsequent overbids must be made in Court at the time of the hearing on the Motion and must be made in minimum increments of $1,000;
any overbid must be actually delivered to the Trustee, in care of his counsel Claire K. Wu, Esq., at the address set forth on the caption of this Notice, not later than three (3) business days prior to the hearing on the Motion and must be accompanied by (i) a certified or cashier’s check payable to the Trustee in the amount of $12,500 (the "Overbid Deposit"), and (ii) financial documents acceptable to the Trustee reflecting the bidder’s present ability to immediately close the sale for the full amount bid at the hearing;
any sale at overbid will be "AS IS" and "WHERE IS" with all faults and without any representation or warranty whatsoever, whether express or implied, including without limitation, without warranty as to seaworthiness, habitability, merchantability, or fitness for a particular purpose, except that the sale will be free and clear of monetary liens, claims and interests;
the Trustee may exercise his discretion to reject a particular overbid that is not both higher and better (based upon all of the circumstances) than the Buyer’s offer or the offer of other overbidders or where, in the Trustee’s subjective opinion, the bidder has not provided sufficient financial documentation to demonstrate that bidder’s present ability to close the purchase of the Vessel and Tender from the Estate; and
(f) any person making an overbid for the Vessel and Tender shall be deemed to have made, on their own account, each of the representations/acknowledgments made by the Buyer to the Trustee in the Agreement;
(9) Authorizes the Trustee to close the proposed sale of the Vessel and Tender to the Buyer (or the successful overbidder) unless an appeal of the order authorizing that sale is timely filed and a stay pending appeal is entered;
(10) In the event that the Buyer is not the Court-approved buyer of the Vessel and Tender because the Buyer was overbid, authorizes the Trustee to direct ART BROOKS SEA CO. to return to the Buyer the $12,000 currently on deposit;
In the event that the Buyer is not the Court-approved buyer of the Vessel and Tender because the Buyer was overbid, authorizes the Trustee to pay to the Buyer a break-up fee in the amount of $1,000; and
(12) Waives the 14-day stay of orders for the disposition of Estate property set forth in Fed.R.Bankr.P. 6004(h).Contact person for potential bidders: Claire K. Wu, Esq. Gumport | Mastan 550 S. Hope Street, Suite 1765 Los Angeles, CA 90071 213-452-4900 firstname.lastname@example.org
3005 Peninsula Road
Oxnard, CA 93035-4069