Auction Announcement
2019-09-10
Guangzhou Maritime Court Auction Announcement (2019) Y72Z No.384-391 By the Enforcement Ruling of (2019) Y72Z No.384-391, this Court ruled to auction M/V “BRAMCO1” owned by BRAMCOW. L.L. It’s hereby announced as follows: 1. Article on auction: M/V “BRAMCO1”. The vessel is now berthing at the quay of COSCO Shipping Heavy Industry (Guangdong) Co., Ltd.Other details of the vessel will be set out in the description of the article on auction. For the survey and assessment report of the vessel, please download related documents attached in the description of the article on auction. 2. Auction method: this Court formed a committee for the auction of the subject vessel by online bidding through Taobao Judicial Auction website. Bidders may first login the website of Guangzhou MaritimeCourt and click “Judicial Auction” for the access to the auction platform. 3. Bidder’s qualification: citizen, legal person and other organization with full capacity of civil conduct may participate into the auction. Bidders, who do not run an account on Taobao Judicial Auction website, may entrust a proxy (a natural person of full capacity of civil conduct), who has an account on the said website, to make the bidding. In such case, a Letter of Authorization signed or stamped by the principal shall be submitted to this Court 3 working days before the commencement of the auction. After winning the bidding, the buyer or its proxy shall sign the Sales Confirmation on Auction of Vessel and go through the formalities for delivery of the article on auction before this Court. In case of a lack of completed authorization by the principal, the bidding shall be deemed as individual act of the proxy. Bidders, who do not satisfy the requirements for the auction, shall bear corresponding legal responsibilities. 4. Auction time schedule: from 10am on 8 October 2019 till 10am on 9 October 2019. The auction sets a function of delayed bidding. Before the closure of the auction, if there is a bidder making a bid at every last 5 minutes, the auction will automatically be extended for 5 minutes. 5. Bidding rules: the starting price is RMB23,100,000. The deposit for the bidding is RMB2,000,000 or USD300,000 (deposit in USD may be remitted to the USD account of this Court 10 days before the commencement of the auction with the bank slip sent by fax to +86(20)80929025). The bid increment is RMB100,000. If there is no less than one bidder and the bidding price it offers is higher than the starting price, it wins the bidding. The Taobao system will, before the commencement of the auction, freeze the funds in the bidder’s account as the deposit, which will automatically be released without any interests within 24 hours if the bidder does not win the bidding. For bidder who wins the bidding, the frozen deposit will automatically be transferred to the account designated by the Court and the balance of the bidding price shall be paid within 10 working days after winning the bidding into the account designated by the court (beneficiary: Guangzhou Maritime Court; bank: Agricultural Bank of China Guangzhou Xinjiao Sub-branch; RMB account No.: 44048201040020917; USD account No.: 44048214040000136. Balance of the bidding price paid in USD would be calculated at the closing exchange rate of RMB against USD on the dateon which the bidder wins the bidding.) In case the auction fails, the bidder’s deposit will automatically be released within 24 hours without any interests. Bidders shall, before making bidding, peruse the Auction Announcementpublished by this Court. 6. Time and method for auction consultation and vessel inspection: auction consultation and vessel inspection could be applied as of the day of this Announcement. You may, 10 days prior to the commencement of auction, send a text message in a form of “vessel inspection-last name-phone number” to 189 2225 5730. Fixed time and location for vessel inspection would be notified separately. Alternatively, you may proceed to the quay of COSCO Shipping Heavy Industry (Guangdong) Co., Ltd. for vessel inspection on your own. 7. The vessel is auctioned on an “as is” basis, and this Court will not assume any guarantee liability if it has any defects. As special notes, bidders are suggested to personally inspect the vessel on site. Bidders who fail to do so shall be deemed to have confirmed the physical conditions of the vessel and shall bear related liability in this respect. The vessel will be delivered at the abovementioned berthing location on an “as is” basis. The cost of bunkers remaining onboard shall be separately paid by the successful biddercalculated at the market price, i.e. the cost of the bunkers remaining onboard isnot included in this auction price. 8. The successful bidder can handle the procedures for the transfer of ownership by presenting the legal instruments rendered by this Court to the competent ship registration department. Taxes, fees and other possible costs arising therefrom shall be for the successful bidder’s account. (note: as it’s a foreign vessel on auction, the bidders shall consult with the competent department about the procedures for the transfer of ownership and taxes/fees which are different from handling a domestic vessel). 9. Interested parties to the subject vessel (including the parties to the case, guarantor and parties who have the right of first refusal) may participate in the bidding. Those who do not participate in the bidding are suggested paying attention on this auction. If the parties who have the right of first refusal fail to participate in the bidding, it shall be deemed a waiver of the right of first refusal by such parties. 10. All creditors to the vessel on auction shall, within 60 days after the third day of the publication of the auction announcement for the first auction of the subject vessel, apply before this Court for registration of their claims. Failure in making such an application within the said prescribed time period shall be deemed as a waiver by the creditors in recovery from the proceeds in the auction of the ship. 11. Contacts: Tel. (for claims registration): 020-89441831,34063863 Tel. (for vessel inspection): 020-80929136,18922255730, 18038231032,13602726118 Tel. (for online auction): 020-34063680, 89104345 Tel. (supervision): 020-34063810, 89024639 For Taobao technical support: 4008222870 Address of this Court: No.863, Nanzhou Road, Haizhu District, Guangzhou Website: http://www.gzhsfy.gov.cn Email: pm@gzhsfy.gov.cn 4 September 2019