shl Doc 466 Filed 10/03/18 Entered 10/03/18 19:34:41 Main Document Pg 1 of 2

Transcription

1 shl Doc 466 Filed 10/03/18 Entered 10/03/18 19:34:41 Main Document Pg 1 of 2 JENNER & BLOCK LLP Marc Hankin Carl Wedoff 919 Third Avenue New York, New York (212) UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re: FIRESTAR DIAMOND, INC., et al. Debtors. 1 Chapter 11 No (SHL) (Jointly Administered) NOTICE OF PROPOSED SALE TO PARAG DIAMONDS INC. Richard Levin, Chapter 11 Trustee (the Trustee ) for the above-captioned debtors (the Debtors ), conducted a public sale on October 3, 2018 of the following property (the Property ) of the Debtors estates: a. Lot 22 (14K H-I/SI2-I1 Engagement and Wedding Rings OV, PR) At the sale, the highest and best bid was made by Parag Diamonds Inc. ( Purchaser ) for $31,000 in cash. The Trustee intends to sell the Property to Purchaser upon the Court s entry of an order approving the sale. The Trustee certifies that the public sale process was conducted regularly and without any appearance of collusion among bidders. The sale will be made free and clear of all liens, claims, encumbrances, and other interests in the Property, with any such interests to attach to the proceeds of the sale. The Trustee believes that the only such interests in the Property are the following: Security interest of HSBC Bank USA and Israel Discount Bank of New York. 1 The Debtors and the last four digits of their respective taxpayer identification numbers are as follows: Firestar Diamond, Inc. (2729), Fantasy, Inc. (1673), and Old AJ, Inc. f/k/a A. Jaffe, Inc. (4756).

2 shl Doc 466 Filed 10/03/18 Entered 10/03/18 19:34:41 Main Document Pg 2 of 2 On August 24, 2018, the Court entered an Order Establishing Sale Procedures For Trustee To Sell Assets Free And Clear Of All Liens And Other Interests [Dkt. 389] (the Sale Procedures Order ). Under the Sale Procedures Order, any objection or other response to the proposed sale must be filed with the Court and served on the parties listed in the Sale Service List maintained by Omni Management Group ( in the manner specified in that list on or before the date that is seven days after the date of this Notice. If there are no objections or other responses to the proposed sale, the Trustee will present the proposed order attached hereto as Exhibit A to the Court to approve the sale, and the Court may issue the order approving the sale without further notice or a hearing. If there is an objection or other response, the Trustee will schedule a hearing on the objection or response and notify the objector and other parties in interest of the date, time, and place of the hearing and will not consummate the proposed sale unless the Court approves. Dated: October 3, 2018 New York, New York Respectfully submitted, JENNER & BLOCK LLP By: /s/ Marc Hankin Marc Hankin Carl Wedoff 919 Third Avenue New York, New York (212) mhankin@jenner.com cwedoff@jenner.com Counsel for the Chapter 11 Trustee 2

3 Proposed Order Pg 1 of 8 Exhibit A Proposed Sale Order

4 Proposed Order Pg 2 of 8 UNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK In re: FIRESTAR DIAMOND, INC., et al. Debtors. 1 Chapter 11 No (SHL) (Jointly Administered) [PROPOSED] ORDER AUTHORIZING SALE OF INVENTORY (LOT 22) FREE AND CLEAR OF INTERESTS TO PARAG DIAMONDS INC. The Trustee Richard Levin, in accordance with the Bankruptcy Court s Order Establishing Sale Procedures For Trustee To Sell Assets Free And Clear Of All Liens And Other Interests entered August 24, 2018 [Dkt. 389] and Notice of Firestar Public Sale 1, Public Sale 2, and Public Sale 3 [Dkt. 411], requests an order authorizing him to sell, assign, grant, convey and transfer the interest of Fantasy, Inc. (the Debtor ) in inventory (the Transferred Property ) described in the Bill o attached as Exhibit 1 to this Order free and clear of all liens, claims, interests, and encumbrances under section 363 of the Bankruptcy Code; and the Court finding that: (i) the purchaser Parag Diamonds Inc. (the Purchaser ) is a purchaser in good faith within the meaning of 11 U.S.C. 363(m); (ii) the Trustee has given appropriate notice of the Motion and the sale under the circumstances and no other or further notice is necessary; and (iii) in light of the absence of any objections or other responses to the Motion and the notice given by the Trustee, any party with a lien, claim, encumbrance, or other interest in or against the Transferred Property has consented to the sale free and clear within the meaning of 11 U.S.C. 363(f)(2), IT IS ORDERED THAT: 1 The Debtors and the last four digits of their respective taxpayer identification numbers are as follows: Firestar Diamond, Inc. (2729), Fantasy, Inc. (1673), and Old AJ, Inc. f/k/a A. Jaffe, Inc. (4756).

5 Proposed Order Pg 3 of 8 1. The Trustee is authorized under 11 U.S.C. 363(b) and (f) and Fed. R. Bankr. P to sell the Debtors interest in the Transferred Property to the Purchaser under the Bill of Sale attached as Exhibit 1 to this Order, which agreement is approved in its entirety. 2. The sale of the Transferred Property to the Purchaser shall be free and clear of all liens, claims, encumbrances, constructive trust, or other interests, with any such interests to attach to the proceeds of the sale. 3. The Purchaser is deemed to have acted in good faith, as that term is used in section 363(m) of the Bankruptcy Code, with respect to entry into the Bill of Sale and consummation of the transactions thereby, and no reversal or modification of this Order on appeal will affect the validity of the Bill of Sale or the transactions contemplated thereby. 4. The Bill of Sale and the transactions contemplated thereby may not be avoided under section 363(n) of the Bankruptcy Code. 5. Under Fed. R. Bankr. P. 6004(h), this Order shall not be stayed for fourteen days after entry, but shall be effective and enforceable immediately. 6. This Court shall retain exclusive jurisdiction to enforce the provisions of this Order. To the extent any provisions of this Order shall be inconsistent with the Motion, the terms of this Order shall control. Dated: The Honorable Sean H. Lane United States Bankruptcy Judge 2

6 Proposed Order Pg 4 of 8 Exhibit 1 (Lot 22 Bill of Sale)

7 Proposed Order Pg 5 of 8

8 Proposed Order Pg 6 of 8

9 Proposed Order Pg 7 of 8

10 Proposed Order Pg 8 of 8