Name A&B Industries of Morgan City, LA. Bankruptcy Auction 3-6-18
Auctioneer Lawler Auction Company
Type Online-Only Auction
Date(s) 3/6/2018
Tuesday, March 6, 2018 beginning at 2pm (Online Only)
Preview Date/Time Monday, March 5, 2018 from 9am to 5pm.
Checkout Date/Time Payment must be received no later than 11am on Wednesday, March 7, 2018. Pickup of movable assets must be done by Friday, March 9, 2018 at 5pm. (Dry docks must be removed within 30 days).
Location 2916 Lake Palourde Road
Amelia, LA 70340
Buyer Premium 10% BUYER'S PREMIUM
We have been commissioned by the United States Bankruptcy Court to liquidate the asset of a ship builder / repair facility near Morgan City, Louisiana, including its real estate, dry docks, cranes, welding equipment, fork lifts, man lifts, air compressors, blasting equipment, etc. We have scheduled an online only internet auction that will begin to close on Tuesday, March 6, 2017 beginning at 2:00 p.m. CST.
There is a 10% Buyer's Premium on all items with the exception of the real estate. All items are sold "as is" without warranties or guarantees of any kind whatsoever. Bidders are encouraged to inspect all items carefully before placing a bid on any item. A preview and inspection time has been set for Monday, March 5, 2017 from 9am to 5pm at 2916 Lake Polourde Road in Amelia, Louisiana. All equipment should be inspected carefully by a qualified professional before operating. All items must be removed from the auction site by Friday, March 9, 2017 at 5:00 p.m. A 6,000 lb. reach fork lift will be on site Thursday and Friday (March 8 & March 9) to assist with load-out for a fee of $3 per minute (minimum of $25). In the event that an item is not removed by Friday, March 9, 2017 at 5pm, a storage fee of $15 per lot, per day shall apply, and the buyer must pay a $200 truck fee for us to send a representative to meet the buyer at the yard, plus $80 per hour while the equipment is loaded onto the buyer's truck. Items not removed by within 7 days will be forfeited and considered abandoned by the buyer. Dry docks must be removed within 30 days, however it will be the responsibility of the buyer to take charge of pumping the water out any dry dock that requires daily pumping (specifically Dry Dock # 1 and Dry Dock # 3). Buyer assumes all responsibility of the dry dock as of Noon on March 7, 2017. All bidding will be conducted online in an internet only auction that will begin to close at 2pm CST on Tuesday, March 6, 2017, beginning with Lot # 1. Each subsequent lot will close approximately 7 seconds behind the other. In the event that a bid is placed within two minutes of closing, it will automatically extend the bidding out two more minutes on that particular lot, giving other bidders a chance to increase their bids. Payment must be made in full immediately after the auction closes via bank wire transfer, credit card, or certified funds delivered to the Lawler Auction Facility located at 7781 Highway 1 North, Shreveport, Louisiana 71107, no later than Wednesday, March 7, 2017 at 11:00 a.m. Payments will NOT be accepted at the Amelia facility, with the exception of fork lift load-out fees. No checks will be accepted without a bank letter of guarantee. No items may be removed until full payment has been received. Real Estate: The winning bidder on the real estate must pay a non-refundable deposit of at least $25,000 by noon on Wednesday, March 7, 2017 at 11:00 a.m., then the balance will be due at closing, not to exceed thirty (30) days from the date of the auction. Taxes will be pro-rated for the year 2018. Buyer assumes all closing costs. This auction is being conducted in accordance with court order issued by United States Bankruptcy Judge Robert Summerhays on January 29, 2018, Case No. 17-51452.
Your bid must adhere to the bid increment schedule.
Bid Amount Bid Increment
0.00 - 20.00 1.00 USD
20.01 - 50.00 2.50 USD
50.01 - 100.00 5.00 USD
100.01 - 300.00 10.00 USD
300.01 - 1,000.00 25.00 USD
1,000.01 - 2,000.00 50.00 USD
2,000.01 - 3,000.00 100.00 USD
3,000.01 - 10,000.00 250.00 USD
10,000.01 - 100,000.00 500.00 USD
100,000.01 - 9,999,999.99 5,000.00 USD
Currency USD
Buyer Premium 10% BUYER'S PREMIUM
Payment Terms
Payment must be made immediately after the auction closes via bank wire transfer or by certified funds delivered to Lawler Auction Company's Shreveport office (7781 Highway 1 North, Shreveport, LA. 71107). No checks accepted without a bank letter of guarantee. Credit cards are accepted, however a 3% surcharge will apply.
Shipping and pickup is the responsibility of the buyer. All movable assets must be picked up by Friday, March 9, 2018 at 5pm. A fork lift will be onsite to assit withou loadout on Thursday and Friday (March 8 and March 9) only for a fee of $3 per minute ($25 minimum).