UP TO 139 NYC TAXI MEDALLIONS ON THE BANKRUPTCY AUCTION BLOCK Minimum of 20 Medallions Will Be Sold

  ISLANDIA, NY - 06/04/2018 (PRESS RELEASE JET)

Maltz Auctions announced it will auction up to 139 NYC taxi medallions on June 14^th, 2018. Gregory Messer, Esq. was appointed as Chapter 7 Trustee for the Debtors’ jointly administered bankruptcy estates. All but one of the Debtors own two Medallions for an aggregate of 139 Medallions (87 Non-Restricted Medallions, 20 Alternative Fuel/Hybrid Medallions and 32 Handicap Medallions) issued by the New York City Taxi and Limousine Commission (TLC).  The Trustee has the authority to sell up to 139 Medallions, with a minimum of 20 Medallions being sold in this auction.The Trustee is represented by LaMonica Herbst & Maniscalco, LLP.

“This is a rare opportunity to purchase a large block of highly coveted NYC Taxi Medallions,” stated Maltz Auction’s President, Richard Maltz. “The Medallions will be sold in six pools of 20 Medallions and one pool of 19 Medallions with the first six pools consisting of twelve Unrestricted, three Alternative Fuel/Hybrid and five Handicap Medallions, and the last pool consisting of 15 Unrestricted, two Alternative Fuel/Hybrid & two Handicap Medallions. Bidders may present bids on one, multiple or all pools.”

Please Call Richard Maltz at 516.349.7022 x 202 with Questions or to Discuss Stalking Horse Opportunities

Auction Date & Time: Thursday, June 14, 2018 at 2:00 pm.  Registration commences at 1:00 pm.

Auction Location:(NEW VENUE) Sheraton LaGuardia East Hotel, 135-20 39th Avenue, Flushing, NY 11354.

Terms & Conditions of Sale: Medallions are sold free and clear of all liens, claims and encumbrances.  All prospective bidders must include a cashier’s checkin the amount of $20,000 per Medallion made payable to “Gregory Messer, Chapter 7 Trustee”.  Within 48 hours following the auction, the successful bidders are required to post a total deposit of 20% of the high bid. Please download the complete Terms & Conditions of Sale.

Gregory Messer, Esq., Chapter 7 Trustee
LaMonica Herbst & Maniscalco, LLP, Attorneys for the Chapter 7 Trustee
Richard B. Maltz, Auctioneer DCA# 1240836
David A. Constantino, Auctioneer DCA# 1424944
Richard B. Maltz, Licensed Real Estate Broker
Phone (516) 349-7022 Fax (516) 349-0105

The Medallions are being sold “AS IS” “WHERE IS”, “WITH ALL FAULTS”, without any representations, covenants, guarantees or warranties of any kind or nature, and free and clear of any liens, claims, or encumbrances of whatever kind or nature, with such liens, if any, to attach to the proceeds of sale in such order and priority as they existed immediately prior to the closing. By delivering their respective Deposits, all Bidders acknowledge that they have had the opportunity to review and inspect the Medallions, the state of title thereof and laws, rules and regulations applicable thereto, and will rely solely thereon and on their own independent investigations and inspections of the Medallions in making their bids. Neither Maltz, the Trustee, the Attorney for the Trustee nor any of their collective representatives make any representations or warrantees with respect to the permissible uses of the Medallions.  All Bidders acknowledge that they have conducted their own due diligence in connection with the Medallions and are not relying on any information provided by Maltz, the Trustee, the Attorney for the Trustee, or their professionals. The information contained herein was derived from sources deemed reliable, but is not guaranteed.  Most of the information provided has been obtained from third-party sources and has not been independently verified.  It is the responsibility of the Buyer to determine the accuracy of all components of the sale and Medallions.  Each potential bidder is responsible for conducting his or her own independent inspections, investigations, inquiries, and due diligence concerning the Medallions.  All prospective bidders are urged to conduct their own due diligence prior to participating in the Public Auction.  Bid rigging is illegal and suspected violations will be reported to the Department of Justice for investigation and prosecution.