Bankruptcy Court Eastern District of Michigan Auctions
Bankruptcy Auctions Go Online to Boost Cash for Creditors
Best Option Auction & Appraisal LLC (BOAA) will assist you with your main duties as trustee, to administer the bankruptcy estate.
Online sales are “the single most revolutionary tool the auction business has ever seen.”
Trustees across the U.S. are turning to Internet marketplaces such as Best Option Auction & Appraisal LLC and it’s online auction services, to fetch higher prices for assets, boosting recoveries for creditors.
Digital Domain Media Group Inc., a special-effects company founded by director James Cameron to work on “Titanic” and other films, filed for Chapter 11 protection in September; its lenders gave it a window of just 12 days to find a buyer or risk losing its bankruptcy financing.
The solution—- A whirlwind auction which yielded a happy ending: a winning bid of $30.2 million. The higher price swayed Digital Domain’s unsecured creditors, and U.S. Bankruptcy Court Judge Shannon, who approved the sale, though with some reservations.
BOAA provides bankruptcy auctions services for individuals and companies of any size and at any location. We provide either or a combination of live and local to global auction technology.
Call and schedule an appointment today so we can share with you how we work to bring in the highest returns and use technology to effectively market and sell your property with targeted market research, descriptive listings with professional photography, online auction bidding and secure payment processing with the best customer service. Some of the tasks we perform include the following:
- inventory all assets and have them appraised at fair market value
- liquidate assets at top market value
- guaranteed a date, time and place when cash will be delivered