Heritage Global Partners to Conduct Bulk Foreclosure Auction of LA Digital Post's Editorial Equipment and Related Post Production Assets via Live Telephonic Sale on October 19, 2012
SAN DIEGO--(BUSINESS WIRE)-- Heritage Global Partners ("HGP"), a global leader in asset advisory and auction services and a wholly owned subsidiary of Counsel RB Capital (OTCQB: CRBN), today announced its upcoming UCC foreclosure sale of the complete post production and editorial solutions assets of California-based LA Digital Post, Inc. via a live telephonic sale on October 19, 2012 from 10 am to 11 am PT.
A virtual data room ("VDR") will summarize all items up for sale, including Avid, Sony, Panasonic, JVC and other state-of-the-industry post production equipment. To gain access to the VDR, prospective bidders should first reach out to George Wandachowicz of Heritage Global Partners (see contact info below), and approved parties will be required to wire an advance deposit of $25,000 in order to participate in the live auction. Deposits will be held in escrow and either applied toward the winning bid or, for those parties that are not the high bidder, refunded at the conclusion of the auction. Participants should note that a minimum placement bid of $2.3 million has been made by the 'stalking horse bidder.' Additional terms and conditions of the sale are available at http://www.hgpauction.com/?auctionid=232.
"We anticipate a very high level of participation from worldwide buyers for this opportunity to acquire a tremendous wealth of post-production assets," stated Heritage Global Partners Vice President George Wandachowicz. "Inventory for bulk sale includes over 200 fully configured off-line editing and finishing systems (principally Avid), 150 high definition broadcast LCD monitors, over 20 high definition and 180 standard definition recording decks, 17 network storage systems, and much more."
Led by auction industry pioneers Ross and Kirk Dove, Heritage Global Partners is one of the leading worldwide asset advisory and auction services firms, assisting large and small companies with buying and selling assets. A Counsel RB Capital company (OTCQB: CRBN), HGP specializes in asset brokerage, inspection, and valuations, industrial equipment and real estate auctions, as well as enterprise auctions combining tangible and intangible assets.
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