VOLUNTARY LIQUIDATION

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Randell Scott
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1 VOLUNTARY LIQUIDATION CONDITIONS FOR PARTICIPATION IN THE AUCTION CONTRACTOR Mercury Auctions S.r.l. 1

2 CONDITIONS FOR PARTICIPATION IN THE AUCTION VOLUNTARY LIQUIDATION Granted that: - Mercury Auctions S.r.l ( Contractor ) has received an exclusive mandate from the Principal to manage the commission sale concerning the goods of the above mentioned Client; - Therefore has to proceed with sale of the assets; Provided that ADVISES Of the sale, by auction and at the modalities and conditions specified in the following paragraphs which are known and accepted by the participants, of the goods specified into the auction catalogue linked with the present conditions for participation. 1. GENERAL CONDITIONS The auctions for the sale of the goods of the Principal mentioned above will start at 12:00 p.m.,1 st March 2018 and will end at 12:00 p.m., 8 th March The asset and the price are specified into the auction catalog. The Contractor, at his sole discretion, has the faculty to catalog again the asset in the way He consider more suitable in order to realize an overall better selling condition On the auction clearing price is applied 15% (fifteen percent) of auction fee, which has to be borne completely by the successful tenderer. Where applicable, will be applied VAT on the clearing price and on the auction fee. 2. INSPECTION OF THE ASSET The inspection of the assets of the present auction will be possible only by prearranged appointment with the Contractor, available at 030/ The organization of the appointment will be managed by the Contractor in order to guarantee to all the person concerned the same possibility to examine the asset for sale and the privacy of the same. 3. REGISTRATION TO BID: CAUTIONARY DEPOSIT 2

3 In order to be successfully registered, which is mandatory for the participation, is required the payment of a security of 5.000,00 (five thousand euro/00). The security can be deposited via bank draft at the following bank account details IBAN: IT 31 N SWIFT: BLOPIT22.. The security can be deposit also via bank transfer: the banking details will be provided upon request. The security deposited via bank draft has to be credited at least two weekdays before the date of the auction. In that case the participant has to to mercuryauctionssrl@pec.it. Simultaneously has to be communicate the bank details where re-credit the same amount, in case of non-awarding offer. In the event that this deadline would not be respected, the Contractor may not authorize the registration, at its discretion. The subjects who want to be registered crediting the security by bank transfer are aware of the possible problems due to the use of telematic devices, for which the contractor cannot be held liable. The subjects who want to deposit the security by means of other procedures different from the above mentioned ones, will have to communicate it in advance to Contractor and will have to obtain a written approval. At its discretion, the Contractor may decide to not admit to the auction who does not respect the aforementioned conditions, even though the subject stands with a valid title. The security will be held in case of a successful offer, on the contrary will be paid back immediately after the auction, without any commission in case of bank draft, vice versa in case of bank transfer, within 10 weekday from the end of the auction. 4. REGISTRATION TO BID: REQUIRED DOCUMENTS Participation to bid is dependent to prior registration to be fulfilled compulsorily and without derogation within the start of the auction. For this purpose the following documents are required: a) in case of legal person: - Business Profile Information / Chamber of Commerce Certificate; - Copy of the ID document of the legal representative or the administrator with appropriated powers; b) in case of natural person: - Valid I.D card and fiscal code; c) in case of a proxy participation to third person: - I.D document and fiscal code of the third person participant; 3

4 - Appropriate proxy document. In order to a correct registration it s necessary to supply to Contractor a copy of above mentioned documents. Without the requested copies the Contractor reserves the right to admit or not the subject. Those who don t submit the requested documents or do not present it within the deadline will not been registered and consequently will be unable to participate to the auction. 5. EXECUTION OF THE AUCTION The asset are sold by public auction by means of the realization of the necessary auction session with warding of the best bidder. The base price of each asset is determined in an amount based on the expertise report. In case of formation of lots, the price BASE Price is the one made with the sum of the single good evaluation. The Auction starts the day, at the hour and in the place specified at paragraph 1. After the start of the auction in case of a unique valid offer, the asset will be awarded to the single bidder. Vice versa, in case of more participants will occur a competition where all the bidder will be able to make raises whose minimum amount will be defined during the Auction. The single raises must be done within 60 second. The Contractor has the discretion to receive purchasing offer for the asset of the present competitive procedure. It s specified that will be considered only the purchasing declarations received at least 5 days before the auction at the following address mercuryauctionssrl@pec.it. Every bid during the auction is considered an irrevocable purchasing offer for the amount offered plus Law fees, if owned, and auction fees. The offer is no longer considered valid when a better offer is presented with the above mentioned modalities. 6. AWARDING OF THE LOT At the end of the auction the participant who made the higher offer will be considered the successful tenderer. At the end of the auction Mercury Auctions s.r.l. will held the cautionary deposit of the successful tenderer. It is specified that the awarding of the asset is considered a formal purchase commitment which will be finalized with the modalities explained at the following paragraph. 7. PAYMENT TERMS The payment of the price of he awarded assets, has to be done within, and not later, 5 weekdays, from the definitive awarding communication. The payment has to be placed by bank transfer, on the bank details that will be transmitted only 4

5 to successful tenderer. Possible different payment modalities will be pre-emptively arranged and approved by written form by the Contractor or his Collaborators. In case of non-payment of what owed the Principal and the Contractor will held the cautionary deposit as an amount owed and the Principal will authorise the prosecution of the commission sale. If the price obtained from the new sale, combined with the cautionary deposit held, will result lower than the former sale, the insolvency tenderer will be considered liable by the Law of the payment of the difference. The property of the asset is transferred to the purchaser after the payment of the entire amount of the sum in addition to law fee, if owned. 8. WARRANTY The sale is placed referring to the fact and the law as they are, with all the possible accessories. The Contractor cannot be held liable of the lacking or partial correspondence of the assets with their descriptions and their real consistency. The Contractor and declines any responsibility for possible errors, omissions or imprecision in photos, descriptions, quantities and any other detail mentioned in the batches list. The sale is in bulk and not in pair unit bases; possible differences about it do not give rise to any compensation, allowance and/or price reduction. The sale has to be considered as forced ex art c.c; therefore under the law and the effect of art c.c the existence of possible irregularity, lack of quality and/or discrepancy of the sold asset, any kind of charges, for any reason not considered, even if hidden and not reported on the expert examination, will not give raise to any compensation, allowance and/or price reductions, since that has been contemplated in the evaluation of the assets and since that, in an enforced sale, does not occur the warranty for flaws or law quality of the asset, nor the sale cannot be annulled. The Contractor will not be liable in case of third parties s rights on the assets. The assets are sold by as is condition, without any warranty related to its functionality. Considering that is not a sale on the market is up to the successful tenderer the obligation to verify the existence of the protecting, safety and hygiene requirements, nor the environmental protection requirement as provided by the legislation in force at the moment of the sale, before the use or the re-sell on the market of the asset. Are up to successful tenderer possible adaptions to legislations in force, with all risks, responsibilities and consequent fees, excluding any responsibilities and warranty charged to the Contractor. The sale contract between the successful bidder and the Procedure or between the Contractor 5

6 and/or his partner is intended to be agreed in Italy and under the Italian law. In case of doubt or disagreement upon this contract, the Italian version of the text shall prevail on every other version translated in other languages. Participants and successful bidder, with the act of registration accept unreservedly the present conditions and are intended, from now on, to be liable for violation of them. Since now, It is specified the use, as mean of execution of the online auction, of an external platform exclusively in Italian language, therefore the Contractor will not be considered liable for possible translation errors by third subject or wrong interpretation in other languages. For the discontent successful bidder it is not contemplated any possibility to withdraw. 9. OBLIGATION TO COLLECT THE ASSETS The collection of the purchased assets, at expense of the successful tenderer, must be done at the place where the same are placed, and within and not beyond 30 (thirty) working days starting by the verification of the payment. In any case, the collection deadline starts from the deadline date where was possible to make the payment, even if the successful bidder provided for the payment before the deadline. Possible exceptions to the specified deadline will have to be expressly authorized in writing by the Principal. In case of mobile asset registered within the collection deadline, the successful bidder, at his own expenses, must finalise the formalities regarding the change of ownsership. The successful tenderer have to contact the Principal in order to arrange the date, the hour and the possible conditions of the collection. In case of not withdrawing of the assets awarded within the deadline collection, the successful tenderer must pay a fee of 100,00 (one hundred) for each day of delay. If the delay would be protracted over 15 (fifteen) weekdays after the collection deadline, the Principal, after a formal warning to the defaulter, can withhold the deposit and proceed to a new sale of the asset. When the collection of the asset is completed, the deposit is returned to the successful tenderer, eventually net of the fees above mentioned. On all the above-mentioned amounts VAT must be applied if due. 10. ASSISTANCE DURING THE COLLECTION OF THE ASSETS The contractor, given the consistency of the asset and its location, will proceed to the material delivery of the assets to the successful tenderer giving assistance during the collection for a 6

7 prearranged cost of 150,00 (one hundred and fifty/00) plus VAT for every day of availability. Is specified that the activity regard exclusively the check of the correctness of the assets collected and is not comprehensive of dismantling, porterage and loading activities. This amount must be paid to the Contractor within the prearranged deadline for the collection upon agreement with the same about the necessary days at disposal. The Contractor can provide to the successful tenderer various typologies of services and assistance during the operation of collection, upon agreement and with additional fees prearranged between the parties. 7

VEHICULAR AUCTION of 10th MAY 2018 INVITATION TO TENDER

VEHICULAR AUCTION of 10th MAY 2018 INVITATION TO TENDER PROCEDURES: C.P. Espresso Cap S.r.l. Fall. ICI Intermediazioni Costruzioni Immobiliari S.r.l. Fall. Rizzi Lino Fall. Edilciemme S.r.l. Fall. Rota-Sol