Bankruptcy Sale of Prime Real Estate on the Boardwalk at Lincoln Place in Atlantic CityJanuary 23, 2009
Note: Any inquiries regarding this property can be directed to Susan Thompson, Paralegal, at 609.348.4515.
UNITED STATES BANKRUPTCY COURT
NOTICE OF THE SALE OF REAL PROPERTY
THE BOARDWALK AT LINCOLN PLACE
ATLANTIC CITY, NEW JERSEY
Alfred T. Giuliano (the "Trustee"), the Bankruptcy Trustee for Boardwalk & Lincoln, LLC (the "Debtor"), has determined to sell the Debtor's real property situated on the Boardwalk at Lincoln Place in Atlantic City, Atlantic County, New Jersey, consisting of approximately 21,700 s.f. of prime, strategically located real estate with 100 ft of boardwalk and ocean frontage, designated as Block 19, Lots 1 & 2, and Block 18, Lots 4 & 5 on the Official Tax Map of the City of Atlantic City (the "Property").
A public sale of the Property under Section 363(b) of the United States Bankruptcy Code will be conducted by auction on or about February 24, 2009 at 10 A.M. local time in the Courtroom of the Hon. Kathryn C. Ferguson, Judge of the United States Bankruptcy Court, U.S. Courthouse, 3rd Floor, 402 East State Street in Trenton, New Jersey, in accordance with procedures approved by the Bankruptcy Court at a hearing for such purpose scheduled for February 9, 2009 at 11:00 A.M.
The Property is offered by the Trustee and will be sold "AS IS", "WHERE IS" and "WITH ALL FAULTS", and without any financing or other contingencies. The Trustee makes no representations or warranties of any kind with respect to the Property or any of the improvements, appurtenances, rights, privileges or title thereto. The Property will be sold free and clear of any interest in the Property other than the Debtor and its bankruptcy estate pursuant the Section 363(f) of the United States Bankruptcy Code, and any sale is subject to approval of the Bankruptcy Court.
Written bids with proof of ability to close will be accepted until February 19, 2009. The closing must take place no later than February 27, 2009.
The first mortgage holder, Wexford/HPC Mortgage Fund, LP, has the right to credit bid the amount of its secured debt. Any other bidder accepted to purchase the Property must pay the full consideration bid in cash by wire transfer or other immediately available funds delivered to the account of the Trustee's attorney on the closing date, and evidence of availability of funds will be required as a condition for participation in the Auction.
Additional information about the Property and the sale can be accessed at www.foxrothschild.com. For other questions, or to submit a bid with qualifications for participation in the auction, please contact: Susan Thompson, Paralegal, Fox Rothschild LLP, Midtown Building, Suite 400, 1301 Atlantic Avenue, Atlantic City, NJ 08401, 609.348.4515, [email protected] .
Michael Viscount, Esquire
FOX ROTHSCHILD LLP
Midtown Building, Suite 400
1301 Atlantic Ave
Atlantic City, New Jersey
Attorney for Alfred T. Giuliano
Chapter 7 Bankruptcy Trustee for Boardwalk & Lincoln, LLC