Allowed Claim in the Amount of $1,750,000 under Chapter 11 Confirmed Plan

Description

Item Id: LOG Energy01
Case Name: LOG Energy Exploration, Ltd
Case Number: 13 50114
Trustee:
Starting Minimum Bid: $5,000

Description: Estate’s interest in an Allowed Claim in the amount of $1,750,000 in the confirmed Chapter 11 plan of reorganization of Thomas A. Lamont Case # 15 50120 (Southern District of Texas, Laredo Division).

The following documents delineate the Estate’s interest:
Exhibit A – Proof of Claims filed in the Thomas A. Lamont Chapter 11 Case #15-50120 (Claim #8-1 & #8-2)
EXHIBIT A

Exhibit B – Claims register for the Chapter 11 Case of Thomas A. Lamont Chapter 11 Case #15-50120

Exhibit C  – Adversary Docket for Michael B. Schmidt, Chapter 11 Trustee vs. L.O.G. Energy Exploration, Ltd. And Thomas Alan Lam Adversary case #14-05008 Southern District of Texas, Laredo Division

Exhibit D – Michael B. Schmidt, Chapter 11 Complaint vs. L.O.G. Energy Exploration, Ltd. And Thomas Alan Lamont

Exhibit E – Order granting abatement of Adversary Proceeding #14-05008

Exhibit F – Approved Plan of Reorganization and Disclosure Statement for the Chapter 11 Bankruptcy Case of Thomas A. Lamont Case #15-50120

No payments on the claim has been received as of May 2018. Contact information on the Plan Trustee pursuing the claims will be provided to the winning bidder.

Notes: A document preparation fee of $525 will apply. This is all we know about this item. Any fees/liens owing on this item are not part of the final bid price. A bid submitted by a buyer is an agreement to our Terms. Buyers should not bid unless they fully intend to complete the sale in accordance with our Terms (to view terms, click “Terms” tab in Seller Store header at top of ad).

Bidders should familiarize themselves with BKAssets.com policy regarding ‘Proxy Bidding’ (see ‘Bidding Guide’ on BKAssets.com Home Screen). BKAssets is not responsible for connectivity issues, or Internet transmission times, when submitting an auction bid near the close of auction. The auction process does not extend past the set close time of the auction and bidders are solely responsible for the timing and receipt of their bids if they elect not to utilize Proxy bidding.

Legal Info: By Order of the United States Bankruptcy Court, Bkassets.com sells this and any other property “AS IS, WHERE IS”, with no warranties implied or stated. This means that the Seller and the trustee are not responsible for problems (if any) with the title, the condition of the property or rights, or any liens or encumbrances against the unit. The buyer will be entirely responsible for this property after the sale including but not limited to: paying any fees/costs associated with this property, paying all fees/liens (if any), recording/transferring the title and gathering any paperwork/documentation necessary for that process. Seller and trustee are NOT appraisers, or oil/gas/pipeline brokers. BKAssets and the trustee shall be under no obligation to buyer except to provide buyer with a assignment or deed as required by Live Oak County. All the information as to the item description has been provided by the court. BKAssets cannot guarantee that all the information is accurate. BKAssets recommends all bidders perform their own due diligence prior to bidding. As with any bankruptcy sale, this sale may be subject to court approval.

Payment Info: $U.S. Money order, certified check, cashier’s check. BKAssets may also accept “Bill Pay” from Wells Fargo, Bank of America, Chase, Citibank, a local regional bank or Credit Union. If you would like to use “Bill Pay,” but do not bank at one of these establishments, please call BKAssets prior to sending payment. A document preparation fee of $525 (payable to seller) will apply. Full payment must be received within (7) days of winning bid. Any bidder who does not complete the sale within 7 days from the close of auction will be considered in default. Seller has the right to proceed with the next highest bidder.

Shipping Info: Shipping is included to all buyers in the United States. International bidders are welcome, please contact BKAssets for shipping costs to countries other than the United States prior to bidding. Shipping costs to locations outside of the US will be calculated at the close of auction. Please be advised that because this is a US Bankruptcy Court Ordered sale, and subject to approval, shipping can take an average of 3-6 weeks.

Liens: We do not know of any liens.

Bidding Guide: Please review the bkassets.com bidding guide for terms of auction prior to placing a bid or making an offer.