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C. The Receiver’s “Exhaustive Marketing Process” Was Approved Under The Order
Approving Sale And Debtor Never Objected To The Marketing Efforts Of The Receiver
The Order Approving Sale expressly finds, among other things, that (1) “the Property
was heavily marketed”, (2) “the offer of LBD Holdings LLC was the highest and best offer
received for the Property”, (3) “the purchase price is fair and reasonable”, and (4) “the price was
reached after an exhaustive marketing process”. See the Order Approving Sale attached to the
Foushee Declaration at Exhibit “L.” Yet, Debtor and Mr. Goldwasser offer the stale, untimely
and fanciful assertion that they can now somehow do better.
Debtor’s baseless contention is countered by the binding Purchase and Sale Agreement
between the Receiver and 28th St LLC, successor in interest to LBD Holdings, LLC dated August
8, 2025, with a purchase price of $9,050,000.00 (“Purchase Agreement”), as approved by the
court under the Order Approving Sale. Debtor’s efforts only act to jeopardize the sale of the
Property currently scheduled for January 8, 2026, and ignore the “exhaustive marketing process”
undertaken by the Receiver.
The Receiver’s marketing process is more fully set forth within the Declaration Of
Edward Denton submitted herewith. The Receivership Order specifically authorized the
Receiver to “…engage Commonwealth Commercial… to facilitate the sale of the Property under
standard brokerage terms and conditions and fees and commissions.” See the Receivership Order
attached to the Foushee Declaration at Exhibit “H.” Importantly, the Receiver and
Commonwealth Commercial secured the Purchase Agreement.
Prior to the execution of the Purchase Agreement, Commonwealth Commercial
aggressively marketed the Property listing the Property with national listing services LoopNet,
Case 25-23251-MEH Doc 18-20 Filed 12/22/25 Entered 12/22/25 20:08:18 Desc
Memorandum of Law Page 14 of 20
ANN public copy | complete ECF 18-20 | combined source PDF 469/478
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