Trans Marine Propulsion Systems

SECURED CREDITOR AUCTION - LEGAL ADVERTISEMENT

Sale of Foreclosed upon Assets of TRANS MARINE PROPULSION SYSTEMS, INC., a Washington corporation, CITATION LEASING, LLC, a North Carolina limited liability company, TRANS MARINE FLIGHT SERVICES, LLC, a Florida limited liability company and TRANS MARINE TAMPA LLC, a Washington limited liability company (collectively, the “Debtor”).  The following described property will be exposed for sale by public auction at the office of Lucosky Brookman LLP, 101 Wood Avenue South, Iselin, New Jersey 08830 at 4:00 PM on Monday, November 27^th, 2017:  all tangible and intangible assets of the Debtor, including, but not limited to, all (A) Accounts, (B) As-extracted collateral; (C) Chattel Paper (whether tangible or electronic); (D) Commodity Accounts; (E) Commodity Contracts; (F) Deposit Accounts; (G) Documents; (H) Equipment; (I) Farm Products; (J) Fixtures; (K) General Intangibles (including all Payment Intangibles); (L) Goods; (M) Health-Care Insurance Receivables; (N) Instruments; (O) Inventory, including raw materials, work-in-process and finished goods; (P) Investment Property; (Q) Letter-of-Credit Rights; (R) Promissory Notes; (S) Software; (T) all Supporting Obligations; (U) all other tangible and intangible personal property of Debtor, including, all bank and other accounts and all cash and all investments therein, and all books, correspondence, files and other records, including, all tapes, desks, cards, software, data and computer programs in the possession or under the control of Debtor; (V) all real property interests of Debtor and the interest of Debtor in fixtures related to such real property interests.  Notwithstanding the foregoing, the following assets shall NOT be sold:  (A) any assets wherein the Secured Creditor represented by Lucosky Brookman LLP does not have a first priority security interest in and to the assets; and (B) the shares or membership interests of any Debtor.  All of the foregoing definitions are as defined in the Uniform Commercial Code as in effect in the State of Nevada.  The concise description given does not constitute a full legal description.  Assets to be sold shall be sold together as one lot and may not be bid on individually. Auction registration begins at 3:30PM, Monday, November 27th, 2017. All bidders must be in possession of a $100,000 cashier’s check made payable to Lucosky Brookman LLP Attorney Trust Account in order to register. These funds shall serve as a deposit. No credit cards or personal checks shall be accepted. Final payment must be paid at conclusion of auction or next day before 3PM by cashier’s check. The auctioneer reserves the right to resell lot, with buyer forfeiting their deposit, if full payment is not made by 3PM, the next day.  The Secured Creditor retains its right to credit bid.  All items are sold “as is, where is” without warranty or guarantee.  There will be no re-bids or rebates after lot is sold.  A bid signifies acceptance of these terms of sale. Additional terms of sale may be announced by auctioneer on day of auction.  Further description of the assets can be found at www.ajwauctions.com.  Attorney(s) for Secured Party: LUCOSKY BROOKMAN LLP, Tel: (732) 395-4400.