Auctions

15 Nov Secured Party Public Auction of Interest in the Collateral of
TECHNICAL ARTS GROUP LLC, KM PRODUCTIONS NY, INC. and
QUALITY AUDIO AND VISUAL INC.

NOTICE OF SECURED PARTY PUBLIC AUCTION OF

interest in the COLLATERAL (AS HEREINAFTER DEFINED)

PLEASE TAKE NOTICE that, in accordance with applicable provisions of the Uniform Commercial Code as enacted in New York, Abe V. Systems Inc. (d/b/a AVS Production Group), a New York corporation (together with its successors and assigns, individually and/or collectively, as the context may require, “Secured Party”), will sell all of Debtors’ right, title and interest in, to the collateral  described below (collectively, the “Collateral”) to the highest qualified bidder(s) at a public sale. As used herein the term “Debtors” shall refer to, collectively, Technical Arts Group LLC, a Delaware limited liability company (“Purchaser”), KM Productions NY, Inc., a New York corporation, and Quality Audio and Visual Inc., a New York corporation.

The “Collateral” shall mean all of Debtors’ right, title and interest now owned or later acquired in the following: the Purchased Assets (as defined in that certain Asset Purchase Agreement, dated as of January 2, 2024, between Purchaser and Secured Party); all Goods, Inventory, Equipment and Fixtures; all Proceeds of each of the foregoing; and to the extent not otherwise included, substitutions, replacements, accessions, products and other Proceeds (including, without limitation, insurance proceeds, licenses, royalties, income, payments, claims, damages and proceeds of suit) of any or all of the foregoing.

The public sale will take place beginning at 2:00 p.m. Eastern Standard Time (New York) on Tuesday, November 19, 2024, both in person and remotely from the offices of Paul Hastings LLP, 200 Park Avenue, New York, New York 10166, with access afforded in person and remotely via Zoom or other web-based video conferencing and/or telephonic conferencing program selected by Secured Party. Remote log in credentials will be provided to registered bidder(s). The Collateral will be sold to the highest qualified bidder(s); provided, however, that Secured Party reserves the right to cancel the sale in its entirety, or to adjourn the sale to a future date by announcement made at the time and place scheduled for the public sale. The sale will be conducted by a NYC Division of Consumer Affairs Licensed Auctioneer or such other person designated by the Secured Party. The Collateral will be sold individually or in one or more lots to be determined by the Secured Party.  Interested parties who intend to bid on the above Collateral must contact Joseph Finn Co., Inc. 188 Needham Street, Newton, MA  02464; Tel: 617-964-1886; Email: ross@josephfinn.com; attention: Ross Finn, to receive the Terms of Public Sale and bidding instructions. Upon execution of a standard non-disclosure agreement, additional documentation and information will be made available. Interested parties who do not contact the Secured Party and qualify prior to the public sale will not be permitted to enter a bid or participate at the public sale either in person or remotely. 

PAUL HASTINGS LLP

Attorneys for Secured Party

Attn: Sean Monroe, Esq.

1999 Avenue of the Stars

Los Angeles, CA 90067

Facsimile: 310-620-5857

Email: seanmonroe@paulhastings.com