Master Card/Visa Class Action Settlement/Claim in the Approximate Amount of $726,175.00 !! *Future Payout*

Description

Item Id: PRM31
Case Name: PRM formerly dba Ranch Markets (liquidating trust)
Case Number: 13 09026
Starting Minimum Bid: $17,000

Description: The Estate has claims or rights to payments in connection with the case pending as In re: Payment Card Interchange Fee and Merchant Discount Antitrust Litigation, MDL No. 1720 (E.D.N.Y.) (“Interchange Litigation”), and the facts and issues relating thereto (“Interchange Claim”). Court documents regarding this settlement are as follows and can be downloaded by clicking on the following links:

Link to estimated value of claims vs. Master Card / Visa:Visa Mastercard tender totals

Link to class action settlement information: https://www.paymentcardsettlement.com/en

1) Notice of Class Action Settlement Authorized by the U.S. District Court, Eastern District of NY;
DOC #1 – NOTICE OF SETTLEMENT – MC VISA – PRM

2) Superseding and  Amended Definitive Class Action Settlement Agreement;
DOC #2 – SUPERSEDING & AMENDED SETTLEMENT – MC VISA – PRM

3) Superseding and Amended Definitive Class Settlement Agreement Appendices A through J – Filed September 18, 2018
DOC #3 – SUPERSEDING AMENDED APENDIX A- J – MC VISA – PRM

4) Memorandum & Order re: Preliminary Approval
Memo and Order re Preliminary Approval – MC VISA – PRM

5) Order Regarding Third-Party Claims Filing Services – Filed September 26, 2018
Order Regarding Third-Party Claims Filing Services – MC VISA – PRM

6) Settlement Order and Final Judgment
Dkt No. 7832_Settlement Order and Final Judgment – MC VISA – PRM

7) Order on Motion for Settlement – Class Representative Awards
Dkt No. 7832_Settlement Order and Final Judgment – MC VISA – PRM

8) Order on Motion for Attorney Fees
Dkt No. 7822_Order on Motion for Attorney Fees – MC VISA – PRM

Terms and Conditions of Auction Sale:

Trustee reserves the sole and exclusive right to accept or reject highest bid received from the auction.  If the Trustee accepts the highest bid, that bidder shall become the Purchaser under the terms of the purchase agreement (see below).

Highest accepted bidder (“Purchaser”) will be required to sign a purchase agreement with the Trustee of the Liquidating Trust.  The purchase agreement can be found at the following link:PURCHASE AGREEMENT AFTER HIGHEST & BEST BID ACCEPTED BY THE TRUSTEE – MC VISA – PRM

Bidding Procedures: The Trustee has received a stalking horse offer of the Interchange Claim to Oak Point is subject to overbid. In the event a party other than Oak Point (each, a “Competing Bidder”) wishes to purchase the Interchange Claim, the Creditor Trustee requests that all Competing Bidders adhere to the following overbid procedures:

The first overbid by a Competing Bidder for the Interchange Claim must be at least $2,000 more than the Purchase Price, or a total of $17,000; subsequent bidding minimums will be set by the auction software.  IN THE EVENT THERE ARE NO HIGHER AND BETTER BIDS, THIS SETTLEMENT WILL BE SOLD TO OAK POINT PARTNERS FOR $15,000.

Additional Terms: A closing cost fee of $575 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).

Legal Info:  BKAssets “Seller” sells this settlement agreement and any other bankruptcy 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 settlement agreement, collection of same.  After the sale closes, the buyer will be entirely responsible for monetizing the assignment by the Trustee to the future payout from a Master Card Visa class action settlement fund but not limited to: paying any fees/costs associated with this settlement, pursuit of the collection any paperwork/documentation necessary for that process and for collection of the settlement. Seller and trustee are NOT appraisers or settlement/judgment brokers. BKAssets and the trustee shall be under no obligation to buyer except to provide buyer with an assignment and signing any documents as outlined in the purchase agreement. All the information as to the item description has been provided by liquidating Trustee. 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 will be subject to the Trustee’s final review and acceptance.

Payment Info: Certified check, cashier’s check, bank wire – US Funds only.

A closing cost fee of $575 (payable to seller) will apply. Full payment must be received within three (3) business days after acceptance by the Trustee and receipt of the signed purchase agreement. If a bidder does not complete the sale within three (3) business days as stated above, will be considered in default. Seller then has the right to proceed with the next highest bidder. Highest bidder will be liable for any monetary damages due to not completing the sale.

Liens: Trustee indicates in the purchase agreement that this settlement agreement will be sold free and clear of any liens or encumbrances.

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