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1 2 3 4 5 6 7 8 9 In re 10 TC GLOBAL, INC., 11 Debtor.

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HONORABLE KAREN A. OVERSTREET HEARING DATE: FRIDAY, DECEMBER 7, 2012 HEARING TIME: 9:30 A.M. LOCATION: SEATTLE, COURTROOM 7206 RESPONSES DUE: FRIDAY, NOVEMBER 30, 2012

UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF WASHINGTON

No. 12-20253 MOTION FOR AUTHORITY TO SELL CERTAIN INVENTORY AND EQUIPMENT WITHOUT NEED FOR ADDITIONAL NOTICE AND FOR AUTHORITY TO CONSIGN PIANO FOR SALE NUNC PRO TUNC

TC Global, Inc. (“Debtor”), debtor-in-possession herein, moves the Court for an order authorizing it enter into agreements and to sell equipment and inventory relating to closed locations without further notice so long as the Debtor complies with the procedures described herein. The Debtor further requests authority nunc pro tunc to enter into a consignment agreement with respect to a baby grand piano that formerly resided in one of its closed locations. A. Equipment Sales The Debtor recently closed nine of its retail coffee shop locations. Prior to that, the Debtor had closed ten additional locations. The Debtor is now required to pay $1,100.00 per month for offsite storage to house the equipment and inventory previously at the closed locations for which the MOTION FOR AUTHORITY TO SELL CERTAIN INVENTORY AND EQUIPMENT WITHOUT NEED FOR ADDITIONAL NOTICE – Page 1
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B USH S TROUT & K ORNFELD
LAW OFFICES

LLP

5000 Two Union Square 601 Union Street Seattle, Washington 98101-2373 Telephone (206) 292-2110 Facsimile (206) 292-2104

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Debtor no longer has a need. Attached is a list of the inventory and equipment. The Debtor estimates that the maximum liquidation value of the equipment and inventory is approximately $140,000. In the past, the Debtor has worked with equipment resellers to sell individual pieces of equipment. Additionally, the Debtor has received inquiries from other coffee shops or individuals that are interested in purchasing individual pieces of equipment and portions of inventory. The Debtor believes that it will obtain the highest value for its equipment and inventory by selling it itself in multiple small sales to a variety of interested purchasers as opposed to having an auction. The Debtor does not anticipate that a sale to any one purchaser would yield greater than $25,000 and that the vast majority of sales would be much smaller. In order to avoid the cost of providing notice of each sale, the Debtor requests authority to enter into sales of its equipment and inventory without further notice to creditors if the following conditions are met: 1. The Debtor solicits multiple bids/offers for the particular inventory and/or equipment that is the subject of a given sale and accepts the highest offer yielding immediate cash to the Debtor; The sale is to a non-insider; and The sale is for less than $25,000.

2. 3. B.

Piano Consignment The Debtor’s 4th & Union downtown Seattle location featured a baby grand piano. That

location was closed as of October 14, 2012. The Debtor estimates that the piano is worth approximately $3,500 based upon a consignment quote by Northwest Pianos, LLC (“NWP”), a business that regularly sells and warrantees used pianos. In order to avoid the expense of moving the piano and to facilitate the sale of the item the Debtor no longer needs, the Debtor entered into a Piano Consignment Agreement (“Agreement”) with NWP on October 12, 2012. The Agreement provides MOTION FOR AUTHORITY TO SELL CERTAIN INVENTORY AND EQUIPMENT WITHOUT NEED FOR ADDITIONAL NOTICE – Page 2
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5000 Two Union Square 601 Union Street Seattle, Washington 98101-2373 Telephone (206) 292-2110 Facsimile (206) 292-2104

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that NWP will move, service and promote the sale of the piano and that, upon sale, the Debtor will received $3,500 to $4,000 (quote as amended) if the piano is sold within the first 30 days. As provided in the Agreement, the net proceeds decrease incrementally if the sale period is extended. It is the Debtor’s business judgment that the Agreement provides the means to recover the most value for the piano and requests that the Court authorize the Debtor to enter into and perform under the Agreement nunc pro tunc. CONCLUSION Based upon the foregoing, the Debtor respectfully requests that the Court enter an order authorizing it to enter into sales under the conditions set forth herein without the need for further court approval and to enter into and perform under the Agreement nunc pro tunc. DATED this 30th day of October, 2012. BUSH STROUT & KORNFELD LLP

By

/s/ Christine M. Tobin-Presser Christine M. Tobin-Presser, WSBA #27628 Attorneys for TC Global, Inc.

MOTION FOR AUTHORITY TO SELL CERTAIN INVENTORY AND EQUIPMENT WITHOUT NEED FOR ADDITIONAL NOTICE – Page 3
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B USH S TROUT & K ORNFELD
LAW OFFICES

LLP

5000 Two Union Square 601 Union Street Seattle, Washington 98101-2373 Telephone (206) 292-2110 Facsimile (206) 292-2104

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1 2 3 4 5 6 7 8 9 10 In re 11 TC GLOBAL, INC., 12 Debtor. 13 14 15 16 17 18 19 20 21 22 23 24 25 26
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UNITED STATES BANKRUPTCY COURT WESTERN DISTRICT OF WASHINGTON

No. 12-20253 [PROPOSED] ORDER AUTHORIZING THE DEBTOR TO SELL CERTAIN INVENTORY AND EQUIPMENT WITHOUT NEED FOR ADDITIONAL NOTICE AND FOR AUTHORITY TO CONSIGN PIANO FOR SALE NUNC PRO TUNC

THIS MATTER came before the Court upon the Motion for Order Authorizing the Debtor to Sell Certain Inventory and Equipment Without Need for Additional Notice and for Authority to Consign Piano for Sale Nunc Pro Tunc (“Motion”) filed by TC Global, Inc. (“Debtor”), debtor-inpossession herein. The Court has reviewed the files and records herein and finds that cause exists for the requested relief. Now, therefore, it is hereby ORDERED: 1. That the Motion is granted;

[PROPOSED] ORDER – Page 1

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2.

That the Debtor is authorized to enter into and consummate sales transactions for

inventory and equipment relating to its closed locations without further notice so long as (a) the Debtor solicits multiple bids/offers for the particular inventory and/or equipment that is the subject of a given sale and accepts the highest offer yielding immediate cash to the Debtor; (b) the sale is to a non-insider; and (c) the sale is for less than $25,000; and 3. That the Debtor is authorized nunc pro tunc to enter into the Agreement attached as

Exhibit A to the Declaration of Catherine Campbell filed in support of the Motion. / / /End of Order/ / / Presented by:

9 BUSH STROUT & KORNFELD LLP 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26
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By_________________________________ Christine M. Tobin-Presser, WSBA #27628 Attorneys for TC Global, Inc.

[PROPOSED] ORDER – Page 2

B USH S TROUT & K ORNFELD
LAW OFFICES

LLP

5000 Two Union Square 601 Union Street Seattle, Washington 98101-2373 Telephone (206) 292-2110 Facsimile (206) 292-2104

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