THIS IS AN INTERNET AUCTION ONLY
Any condition statement is given as a courtesy to a client, is only an opinion, and should not be treated as a statement of fact. Mayo Auction & Realty shall have no responsibility for any error or omission. The absence of a condition statement does not imply that the lot is in perfect condition or completely free from wear and tear, imperfections, or the effects of aging.
BUYERS PREMIUM: A 10% buyer's premium will be added to each purchase. If you bid $100.00 at check out you will be charged $110.00.
PAYMENT: Accepted forms of payment include Visa, MasterCard, Discover, American Express, local check (under $500) & cash. Vehicle assets must be paid using cash, certified check, or wire transfer (Credit Cards are not an acceptable payment method for vehicles). Payment must be made prior to picking any items up.
STAGGERED/DYNAMIC CLOSING: The auction will begin closing at 7:07 PM on Tuesday, February 23rd. The closing time of each lot will be automatically extended an additional 5 minutes whenever a bid is placed within the last 5 minutes of the lot's closing time and will continue to do so until the timer runs out.
We utilize scheduled load-out by appointment. We will be sending out an email to all winning bidders with a link to sign up for an appointment after the auction is over.
LOAD OUT: LOCAL PICKUP ONLY Winning Bidders may pick their items up at 4006 S 40th Street; St. Joseph, MO 64503 by appointment only during the published load out times. Load Out will be held on Monday, March 1st from 9 am to 4 pm, Tuesday, March 2nd from 9 am to 4 pm, and Wednesday, March 3rd from 9 am to 4 pm by scheduled appointment only. Any items left after the specified load out date will be considered forfeited. We will not be offering any additional load out dates or times. It will be the buyer's responsibility to dismantle & disconnect any and all equipment. Please bring your own packing materials, labor, tools & moving equipment.
CAUTION: For demonstration purposes, various equipment may be joined. Do not assume a lot consists of more than one item simply because they are connected or pictured together. Please inspect the lot numbers and read the descriptions.
CATALOG DISCREPANCIES: You are bidding on the described item, not the photograph, occasionally the wrong photo may be displayed, always read the item description.
CHOOSE WISELY: We want everyone to get a good deal and most will. However, when you bid on the wrong item or decide an item is not suited for your intended use, our clients are not willing to assume the cost of your mistakes. When in doubt about condition, completeness, or suitability for intended use, please bid accordingly.
Server & Software Technical Issues: In the event, there are technical difficulties related to the server, software, or any other online auction-related technologies, Mayo Auction & Realty reserves the right to extend bidding, continue the bidding, or close the bidding.
NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR MAYO AUCTION & REALTY SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by Mayo Auction & Realty.
Warranty and Condition of Items Sold: All items are sold 'AS IS, WHERE IS', with NO WARRANTY expressed or implied. It is the responsibility of the buyer to determine the condition of the items and bid accordingly. Descriptions are believed to be accurate but not guaranteed. When you are not certain of the condition or use of an item please bid accordingly.
The auctioneer reserves the right to add or remove items from the auction; split or combine lots; add minimum bids or reserve prices; cancel, suspend, extend or reschedule an individual item or auction event. The auctioneer reserves the right to make changes to the auction closing times or inspection or removal times.
AUCTION PROCEDURES
On November 13, 2020, the Debtor filed a Motion to Approve (A) Auction Procedures and (B) One or More Potential Sale(s) of All Assets Free and Clear of all Liens, Interests, Claims and Encumbrances, and (C) Related Procedures/Relief Pursuant to 11 U.S.C. §§ 105 and 363 [Docket No. 199] (the “Sale Motion”) pursuant to which the Debtor requested authority to sell substantially all of the assets of the Debtor’s estates to the highest and best bidders subject to the process outlined herein. These Auction
Procedures have been approved and authorized pursuant to the Order Approving Auction Procedures [Docket No. [___]] (the “Auction Procedures Order”) entered by the United States Bankruptcy Court for the Western District of Missouri (the “Bankruptcy Court”) on December 23, 2020.
AUCTION
1. Time and Place of Auction; Assets to be Sold. Substantially all the inventory, equipment, fixtures, and goods (but not including the Excluded Assets or accounts receivable) of Western Robidoux, Inc., (the “Personal Property” or “Assets” in an online auction, conducted over 18-21 days to to conclude on February 23, 2021 (the “Auction”).
2. Auctioneer. The Debtor has selected Mayo Auction and Realty (the “Auctioneer”) to conduct the Auction. The Auction will be conducted online.
3. Bids. With the exception of small items (items individually worth less than approximately $200) and as otherwise set forth herein, the Assets will be sold by separate lot and each lot will be sold to the highest bidder subject to any reserve prices (as further described below). The Auctioneer, however, may take back-up bidders if the highest bidder fails to close and timely take possession of the purchased assets. All bids will be in dollar denominations. In the event there are technical difficulties related to the server, software or any other online auction-related technologies, Auctioneer will have the right to extend bidding, continue the bidding, or close the bidding. NEITHER THE COMPANY PROVIDING THE SOFTWARE NOR AUCTIONEER SHALL BE HELD RESPONSIBLE FOR A MISSED BID OR THE FAILURE OF THE SOFTWARE TO FUNCTION PROPERLY FOR ANY REASON. Email notifications will be sent to registered bidders with updated information as deemed necessary by Auctioneer. BY PLACING A BID, A BIDDER SHALL BE DEEMED TO HAVE AGREED TO ALL OF THE AUCTION PROCEDURES AND WITH THE INDIVIDUAL TERMS AND CONDITIONS OF THE AUCTIONEER WHICH SHALL BE POSTED ON THE AUCTION WEBSITE.
4. Court Approval. Following the completion of the Auction, the Debtor will file and serve a report of the Auction (the “Auction Report”). The Auction Report shall include the price paid for each lot, the identity of each winning bidder and back-up bidder, and the amount of sale costs and expenses including, without limitation, the Auctioneer’s commission and costs of conducting the sale and the costs of securing the assets prior to and immediately after the sale (the “Sale Expenses”) to be allocated to each of the lots, and the proposed distribution of sale proceeds for Sale Expenses. The Debtor will seek an Order from the Court at the Sale Hearing
approving the various sales (the “Sales”), the Sale Expenses, and the distribution of the Sales proceeds for Sales Expenses, and to the Debtor’s bankruptcy estate (the “Final Sale Order”). Debtors shall request that the Final Sale Order contain a finding that the Sales were made in good faith and are final.
5. Payment. a. Payment. Accepted forms of payment include Visa, MasterCard, Discover, American Express, local check (under $500) & cash. Payment must be made to the Auctioneer prior to picking any items up. The Auctioneer’s load out staff cannot accept any form of payment. b. Escrow and Disbursement of Sale Proceeds. The Auctioneer shall hold the payments in escrow pending approval of the various sales by the Court. Upon approval of the Sales, all monies held by the Auctioneer shall be turned over as directed by the Final Sale Order. If a Sale is not approved, then the Auctioneer shall promptly refund the monies to the winning bidder.
6. Buyers Premium A 10% buyer's premium will be added to the final bid on Personal Property and paid to the Auctioneer directly by each buyer. Example: If buyer bids $10,000.00, the total sale price will be $11,000.00.
7. Closing and Pick-Up. a. Staggered/Dynamic Closing. The Auction will begin closing at 7:00 pm CDT on the day prior to the close of Auction, closing will continue by lot until it is complete sometime on the final day of the Auction. The closing time of each lot will be automatically extended an additional 5 minutes whenever a bid is placed within the last 5 minutes of any lot. b. Personal Property. LOCAL PICKUP ONLY. Winning Bidders may pick their items up at the locations and during the load out times specified by the Auctioneer (after consultation with the Debtor). Load Out will be take place subsequent to entry of order approving the sale only. Unless otherwise agreed to by the Debtor in advance, any items left after the specified load out date will be considered forfeited and the back-up bidder will be notified. The back-up bidder shall have seven (7) days from written notification to tender the purchase price. It will be the buyer's responsibility to dismantle & disconnect any and all equipment, and will be responsible for furnishing their own packing materials, labor, tools & moving equipment. Buyer shall bear the cost of transportation and removal of their purchased Assets and any damage caused by the same. Certain Personal Property will require, among other things, qualified expertise in its removal. The Auctioneer, in consultation with the Debtor and impacted secured creditors, may designate further parameters and requirements in the removal of Personal Property as the Auctioneer may determine in its business judgment. Potential Bidders may consult with the Auctioneer regarding any such parameters and requirements. c. Connie Burri; Cindy Burri; Peter Burri; Brian Burri and any entities controlled by them or bidding on their behalf shall not be permitted to bid at the auction.
8. Warranty and Condition of Items Sold. All items are sold 'AS IS, WHERE IS', with NO WARRANTY expressed or implied. It is the responsibility of the buyer to determine the
condition of the items and bid accordingly. Descriptions are believed to be accurate but not guaranteed.
9. Venue & Jurisdiction of All Disputes. Any and all disputes which may arise by virtue of the Auction or stemming from this Auction shall be resolved by the Bankruptcy Court.
10. Choice of Law. All disputes and other matters related to the Auction shall be governed by bankruptcy law applicable to the Western District of Missouri and, to the extent not controlled or preempted by applicable bankruptcy law, the laws of the State of Missouri without regard to its conflicts of law provisions.
CREDIT BID RIGHTS AND RESERVE PRICES
11. Reserve Prices. a. Personal Property. i. The sale of Personal Property may be subject to a reserve price determined by the Debtor in consultation with the Auctioneer.
12. Credit Bid Right. a. Except as set forth herein, Nodaway Valley Bank may credit bid at the Auction. No other person or entity is permitted to credit bid. b. If Nodaway Valley Bank purchases property via a credit bid, it must as a condition of the purchase pay to the Debtor’s estate in cash a pro rata share of the costs of the auction of personal property, including the Sale Expenses and bid premium. By pro rata share, each credit bid will pay a proportion of the costs of the Auction equal to the proportion of the amount of the creditor’s successful credit bid to all the successful bids at the auction. For example, if the sum of successful bids is $1,000,000, the auctioneer’s cost and fees are $200,000, and the successful credit bid is $100,000 - which is 10% of the successful bids at the auction - then the credit bidder would have to pay the estate $20,000 or 10% of the auctioneers costs and fees.
13. Liens attach to Proceeds. Except with respect to the modification of credit bidding rights, these Auction Procedures and any action taken pursuant thereto are without prejudice to a secured creditor’s asserted lien, including the Adequate Protection Liens granted to Nodaway Valley Bank in the Final Order (I) Authorizing Use of Cash Collateral, and (II) Granting Adequate Protection (Doc. 49). All liens shall attach to the sale proceeds of an Asset in the same priority and manner (and subject to the same claims and defenses, if any) as such lien existed in the Asset prior to the sale.
MODIFICATIONS
14. The Auctioneer, after consultation with the Debtor, shall have the right to adopt such other rules for the Auction that the Auctioneer believes in its business judgment will promote the goals of the Auction.
SALE HEARING AND OBJECTIONS
15. An evidentiary hearing to consider the Sale Motion and approval of the Successful Bid(s) (the “Sale Hearing”), will be held on February, 26 2021 at 10:00 am prevailing Central time (the “Sale Hearing”), in the courtroom of the Honorable Brian Fenimore, United States Bankruptcy Judge, at the United States Bankruptcy Court, Western District of Missouri, 400 East 9th Street, 6th Floor, Kansas City, Missouri. The Sale Hearing may be adjourned or rescheduled as ordered by the Bankruptcy Court without further notice to creditors and parties in interest other than by announcement by the Debtors of the adjourned date at the Sale Hearing.
16. The Debtor’s presentation to the Bankruptcy Court for approval of the Successful Bid(s) does not constitute the Debtor’s acceptance of the Bid(s). The Debtor and Auctioneer will be deemed to have accepted a Bid only when the Bid has been approved by Order of the Bankruptcy Court. Both the successful purchaser and the back-up bidder shall be deemed to have agreed to keep its final bid made at the Auction open through thirty (30) days after the entry of the Final Sale Order.
17. Objections, if any, to the Sale Motion shall be filed with the Bankruptcy Court on or before 5:00 p.m., prevailing Central time on February 25, 2021 (the “Objection
Deadline”).
