Declaration of Marc Barmat as to Default of Object
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Posted On: 01/19/2023 5:21:31 PM
Declaration of Marc Barmat as to Default of Objecting Parties...sorry for any typos, but I had to ocr the document to copy and past it here.
Case 22-13166-PDR Doc 109 Filed 01/19/23
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF FLORIDA
Fort Lauderdale Division
www.flsb.uscourts. gov
In re:
Chapter 7
GENEREX BIOTECHNOLOGY CORP, Case No. 22-13166-PDR
Debtor. _______________________________ ./
Declaration of Marc Barmat as to Default of Objecting Parties
1. My name is Marc Barmat. I am the Chapter 7 Trustee of the estate of Generex Biotechnology Corp.
2. I am over the age of eighteen years old and am competent to testify.
3. All statements in this Declaration are based on my personal knowledge.
4. If I were called to testify as a witness in this matter, I could and would
competently testify to each of the facts set forth herein based upon my personal knowledge.
5. Pursuant to the Order Approving Objecting Parties' Purchase Offer and Related Relief (ECF No. I 06) (the ''Order'') , Terry Thompson, Richard Purcell, Dr. Jason Terrell, and Anthony Crisci (collectively, the ''Objecting Parties'') were required to pay the Chapter 7 Trustee a deposit of one hundred and fifty thousand dollars ($150,000.00) (the ''Deposit'') on or before January 18, 2023.
6. The Objecting Parties were sent wire instructions to tender the Deposit to my trust account, and were solicited multiple times for the tender of the Deposit prior to the January 18, 2023 deadline.
7. As of January 19, 2023, at 9:00 a.m., I have not received the Deposit, in whole or part, from the Objecting Parties.
8. Pursuant to the Order, the failure of the Objecting Parties to timely tender the Deposit constitutes an "Event of Default," and the effect of an Event of Default shall (i)
constitute an express waiver of the Objecting Parties' Objection, and any and all other objections by the Objecting Parties, to the Equity Findings, and their express consent for the Court to enter the Equity Findings, and (ii) mandate that the Objecting Parties will execute all documents reasonably necessary to effectuate the conveyance of all equity in the Companies that the Trustee
or Objecting Parties claim to own to the Person identified by the Trustee as the successful bidder that is approved by the Bankruptcy Court. 1
28 U.S.C. § 1746 Declaration
I declare under penalty of perjury that the foregoing is true and correct. Executed on January 19, 2023.
Marc Barmat, Trustee
1 All capitalized terms not defined herein shall have the meaning ascribed in the Settlement and Equity Purchase
Agreement annexed to the Motion to Approve Settlement and Equity Purchase Agreement (ECF No. 93).
Case 22-13166-PDR Doc 109 Filed 01/19/23
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF FLORIDA
Fort Lauderdale Division
www.flsb.uscourts. gov
In re:
Chapter 7
GENEREX BIOTECHNOLOGY CORP, Case No. 22-13166-PDR
Debtor. _______________________________ ./
Declaration of Marc Barmat as to Default of Objecting Parties
1. My name is Marc Barmat. I am the Chapter 7 Trustee of the estate of Generex Biotechnology Corp.
2. I am over the age of eighteen years old and am competent to testify.
3. All statements in this Declaration are based on my personal knowledge.
4. If I were called to testify as a witness in this matter, I could and would
competently testify to each of the facts set forth herein based upon my personal knowledge.
5. Pursuant to the Order Approving Objecting Parties' Purchase Offer and Related Relief (ECF No. I 06) (the ''Order'') , Terry Thompson, Richard Purcell, Dr. Jason Terrell, and Anthony Crisci (collectively, the ''Objecting Parties'') were required to pay the Chapter 7 Trustee a deposit of one hundred and fifty thousand dollars ($150,000.00) (the ''Deposit'') on or before January 18, 2023.
6. The Objecting Parties were sent wire instructions to tender the Deposit to my trust account, and were solicited multiple times for the tender of the Deposit prior to the January 18, 2023 deadline.
7. As of January 19, 2023, at 9:00 a.m., I have not received the Deposit, in whole or part, from the Objecting Parties.
8. Pursuant to the Order, the failure of the Objecting Parties to timely tender the Deposit constitutes an "Event of Default," and the effect of an Event of Default shall (i)
constitute an express waiver of the Objecting Parties' Objection, and any and all other objections by the Objecting Parties, to the Equity Findings, and their express consent for the Court to enter the Equity Findings, and (ii) mandate that the Objecting Parties will execute all documents reasonably necessary to effectuate the conveyance of all equity in the Companies that the Trustee
or Objecting Parties claim to own to the Person identified by the Trustee as the successful bidder that is approved by the Bankruptcy Court. 1
28 U.S.C. § 1746 Declaration
I declare under penalty of perjury that the foregoing is true and correct. Executed on January 19, 2023.
Marc Barmat, Trustee
1 All capitalized terms not defined herein shall have the meaning ascribed in the Settlement and Equity Purchase
Agreement annexed to the Motion to Approve Settlement and Equity Purchase Agreement (ECF No. 93).
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