| Jeweler M. Fabrikant & Sons seeks approval to auction assets
WASHINGTON (AP) - Diamond wholesaler M. Fabrikant & Sons Inc. has asked a judge for permission to begin enticing bidders for an auction of its assets slated for early May. The request, filed with the U.S. Bankruptcy Court in Manhattan on Tuesday, solidifies the company's earlier assertions that it may liquidate rather than reorganize. Under the auction plan, privately held M. Fabrikant would sell all its assets, including inventory, accounts and intellectual property. It would then file a liquidation plan with the court. Under the proposed auction rules, any stalking-horse, or lead bidder, would be offered payment for fees and costs worth up to 2 percent of the bid or $200,000 (euro147,000), if the offer is lost at auction. The judge overseeing the jewelry company's bankruptcy case will decide whether to approve the rules at a hearing on April 26. M.
Bidding to save Cape Leopards from Extinction
Camps Bay venue, La Med was transformed into a hive of activity and generosity on Thursday 22 March 2007 as 300 guests bid on items ranging from wine to books and art to jewellery to raise funds for the Cape Leopard Trust. Established to save the species from the brink of extinction, its patrons are well aware of the challenges facing the Trust and the magnificent creatures it protects. Franschhoek-based Leopards Leap Wine, which donates a percentage of its sales to the Trust, donated R120 000 while Deutsche Bank added a further R50 000 to the total R400 000 raised on the evening. Before handing-over to auctioneer Joey Burke from Auction Alliance, Hein Koegelenberg, CEO and founder the global wine label Leopards Leap Wines said, "Were here for three reasons tonight. Firstly, were here to take an active role in conservation.
Charity must step up game
Every year, money raised by SWIFT (Southwest Washington Independent Forward Thrust) goes to many organizations throughout the region to make this a better place to live, work and raise a family. SWIFT hosted its 32nd annual fundraiser last week at the Hilton Vancouver Washington with hundreds attending, including business people, elected local officials and community members. It was a grand affair with red carpet and champagne, an elaborate silent auction, dinner and a rousing, if not raucous, live auction. In December, SWIFT gave out more than $100,000 to groups ranging from North Country Emergency Medical Services to Columbia Theater for the Performing Arts in Longview. In essence, SWIFT is an economic-development tool that benefits us. Its core mission was a good idea 30 years ago and remains so today.
Wells shutting down race team after seven years
Unable to compete in the current climate that is Nextel Cup racing, Cal Wells III has apparently decided to liquidate his operation. Sentman Auctions of Indiana, which specializes in racing auctions, will be auctioning off the assets of the No. 32 team beginning Wednesday at the shop in Hickory, N.C. The machine shop equipment is scheduled to placed up for bid on the first day, to be followed by the fabrication shop items on Thursday and then main race shop and office equipment. Also on the block: a 2001 American Eagle motorcoach and fifth-wheel trailer. "Theres everything here from nuts to bolts to race cars to trailers," said Charlie Sentman, a former racer who has been auctioning off racing equipment for over 45 years. "Theres a real nice motorhome. "If you dont have a complete race team, you can complete it here, I guarantee you." The auction flyer lists eight complete cars -- one superspeedway, four intermediate and three short-track versions -- plus a pair of show cars and a pit practice car.
Music Rising Auction Tickets Available: Edge's Gibson Les Paul on ...
Music Rising has announced that tickets are now on sale for the Icons of Music Auction to benefit Music Rising on Saturday April 21, 2007 at Hard Rock Cafe New York in Times Square at 5pm. Tickets can be purchased through Ticketmaster for the auction event, which will offer one of the most significant collections of music memorabilia from many of music's greatest legends with proceeds benefiting Music Rising , a campaign co-founded by U2's The Edge, producer Bob Ezrin and Gibson Guitar Chairman and CEO Henry Juszkiewicz in 2005 to aid musicians of the Gulf Coast Region in regaining their livelihood after the devastation of Hurricanes Katrina and Rita. The live and online auction, hosted by Julien's Auctions , will be offering approximately 200 pieces of music memorabilia, much of which has been specifically donated for this cause.
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