This form is mandatory. It has been approved for use in the United States Bankruptcy Court for the Central District of California.
December 2012 Page 1
F 6004-2.NOTICE.SALE
Sale Date: Time:
Location:
Type of Sale: Public Private Last date to file objections:
Description of property to be sold:
Terms and conditions of sale:
Proposed sale price: _________________________________
Attorney or Party Name, Address, Telephone & FAX Nos., State Bar No. &
Email Address
FOR COURT USE ONLY
Individual appearing without attorney
Attorney for:
UNITED STATES BANKRUPTCY COURT
CENTRAL DISTRICT OF CALIFORNIA -
DIVISION
CASE NO.:
CHAPTER:
In re:
NOTICE OF SALE OF ESTATE PROPERTY
Debtor(s).
DAVID A. WOOD, #272406
MATTHEW W. GRIMSHAW, #210424
MARSHACK HAYS WOOD LLP
870 Roosevelt
Irvine, California 92620
Telephone: (949) 333-7777
Facsimile: (949) 333-7778
Reorganized Debtor
SANTA ANA DIVISION
SHYAM L. DAHIYA,
8:23-bk-10678-SC
11
04/10/2024
1:30 pm
411 West Fourth Street, Santa Ana, CA 92701 - Ctrm 5C
03/27/2024
Residential Property located at 939 Heron Circle, Seal Beach, CA 90740 - APN: 199-201-19
(1) entry of a Bankruptcy Court Order approving the sale free and clear of all liens; (2) property sold in “AS-IS” “WHERE
IS” condition; (3) no contingencies. See Exhibit “1” attached to the Motion for specific information on all conditions of the
proposed sale.
$ 2,175,000.00
Case 8:23-bk-10678-SC Doc 181 Filed 03/20/24 Entered 03/20/24 11:00:59 Desc
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This form is mandatory. It has been approved for use in the United States Bankruptcy Court for the Central District of California.
December 2012 Page 2
F 6004-2.NOTICE.SALE
Overbid procedure (if any):
If property is to be sold free and clear of liens or other interests, list date, time and location of hearing:
Contact person for potential bidders (include name, address, telephone, fax and/or email address):
Date:
Please see attached.
Date: April 10, 2024
Time: 1:30 p.m.
Ctrm: 5C
Place: 411 W Fourth Street
Santa Ana, C 92701
Judge Clarkson will continue utilizing ZoomGov in a hybrid format holding the majority of hearings by video, with an
option for in-person hearings for evidentiary hearings and trials. Parties are directed to review Judge Clarkson’s
self-calendaring instructions for calendaring hearings, either by ZoomGov or in-person.
DAVID A. WOOD
email: [email protected]
MATTHEW W. GRIMSHAW
email: [email protected]
MARSHACK HAYS WOOD LLP
870 Roosevelt, Irvine, California 92620
Telephone: (949) 333-7777
Agent: Susan Hackett - Rodeo Realty - Telephone: (310) 633-1431; Email: [email protected]
03/20/2024
Case 8:23-bk-10678-SC Doc 181 Filed 03/20/24 Entered 03/20/24 11:00:59 Desc
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Overbid Procedure
While Reorganized Debtor is prepared to accept the offer for the Property as set forth in this
Motion, Reorganized Debtor is also interested in obtaining the maximum price for the Property.
Accordingly, the Reorganized Debtor requests that the Court authorize Reorganized Debtor to
implement an overbid procedure regarding the sale of the Property on the following terms:
Any potential overbidder is encouraged to obtain a copy of the Motion and contact
Reorganized Debtor’s counsel prior to the hearing. The Property will be sold subject to overbid at
an open auction (the “Auction”) to be conducted by the Reorganized Debtor before the Court at the
time that this Motion is heard. The Reorganized Debtor proposes the following overbid procedures,
which shall govern any bidding:
1. Any person or entity that is interested in purchasing the Property (the “Bidders”) must
serve the Reorganized Debtor and his counsel with an initial bid in conformance with this paragraph
(“Overbid”), such that any overbid is actually received no later than the commencement of the
auction (the “Bid Deadline”).
2. Any entity that submits a timely, conforming Overbid shall be deemed a “Qualified
Bidder” and may bid for the Property at the hearing. Unless otherwise permitted by the Court, any
entity that fails to submit a timely, conforming bid shall be disqualified from bidding for the
Property.
3. The Reorganized Debtor, subject to the rights of a Bidder or party in interest to raise
an issue with the Court, shall have sole authority to determine whether a party is a Qualified Bidder.
4. Any Overbid must remain open until the conclusion of the auction (“Auction”) of the
Property to be held at the hearing on this Motion.
5. Any Overbid must provide for a minimum purchase price of at least $2,205,000.
6. Any Overbid must be for the Property “as is,” “where is,” and “with all faults” and
shall not contain any financing, due diligence, or any other contingency; a termination fee or any
similar fee or expense reimbursement; and must agree to substantially the same terms as set forth in
the PSA.
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7. Any Overbid must be accompanied by a deposit of $75,000 in certified funds, which
funds shall be nonrefundable if the bid is determined by the Court to be the highest and best bid for
the Property (the “Best Bid”), and proof satisfactory to the Reorganized Debtor that such bidder has
sufficient funds to complete the sale.
8. Any Overbid must be made by a person or entity who has completed its due diligence
review of the Property and is satisfied with the results thereof.
9. If the Reorganized Debtor receives a timely, conforming Overbid for the Property, the
Court will conduct an auction of such property at the hearing, in which all Qualified Bidders may
participate. The Auction shall be governed by the following procedures: (a) All Qualified Bidders
shall be deemed to have consented to the core jurisdiction of the Bankruptcy Court and to have
waived any right to jury trial in connection with any disputes relating to the Auction or the sale of
the Property; (b) The minimum bidding increment during the Auction shall be $20,000; (c) Bidding
shall commence at $2,205,000 ($30,000 over Buyer’s initial bid of $2,175,000); and (d) The
Reorganized Debtor will determine which of the bids is the best bid (the “Successful Bidder”), with
such determination subject to confirmation by the Court.
10. The Successful Bidder must pay, at the closing, all amounts reflected in the Best Bid
in cash and such other consideration as agreed upon.
11. Reorganized Debtor believes the foregoing overbid terms are reasonable under the
circumstances of this case and will ensure that the price ultimately received for the Property will be
the highest and best price.
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1. TO BE SERVED BY THE COURT VIA NOTICE OF ELECTRONIC FILING (NEF): continued:
ATTORNEY FOR CREDITOR CHANNEL PARTNERS CAPITAL, LLC: Alex
Darcy [email protected],
rwoolley@darcydevassy.com;smccarthy@darcydevassy.com
ATTORNEY FOR DEBTOR SHYAM L DAHIYA: Sarah Rose
Hasselberger shasselberge[email protected],
[email protected]rive.com;cbastida@marshackhays.com;[email protected]rive.com
ATTORNEY FOR US TRUSTEE: Michael J Hauser [email protected]
ATTORNEY FOR DEBTOR SHYAM L DAHIYA: Nathan F Smith [email protected],
ATTORNEY FOR DEBTOR SHYAM L DAHIYA: Michael R Totaro [email protected]
US TRUSTEE: United States Trustee (SA) [email protected]v
INTERESTED PARTY COURTESY NEF: Kenneth K Wang [email protected],
Anthony.Conklin@doj.ca.gov
ATTORNEY FOR DEBTOR SHYAM L DAHIYA: David Wood [email protected],
Case 8:23-bk-10678-SC Doc 181 Filed 03/20/24 Entered 03/20/24 11:00:59 Desc
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