BENNINGTON — An auction that might attract business owners along with anyone dreaming of a winter van tour through warmer climes is proposed to liquidate motor vehicle assets of the former Southern Vermont College.
Raymond Obuchowski, the bankruptcy court-appointed trustee overseeing dispersal of real estate and other assets of college, has filed motions to set an online auction of 14 vans, trucks and buses into motion later this month.
If the motions are approved during a Dec. 11 hearing on college-related sale proposals, an online auction of the vehicles could commence Dec. 14. Online showing of the vehicle — including student transport vans, security vehicles, pickups, dump trucks and a small bus — would begin around Dec. 7 and close on Dec. 28.
According to the motion, the vehicles would have to be removed from the SVC campus on Dec. 29.
Hirchak Brothers, LLC, doing business as THCAuction, of Morrisville, is proposed to conduct the auction.
Under the proposed terms, the company would receive 10 percent of any gross proceeds under $100,000, and 5 percent of any amount in excess of $100,000 but not in excess of $200,000, according to the filing. It is anticipated that the sale proceeds will be less than $200,000.
VEHICLE LISTThe college vehicles listed for the sale include a 2016 Ford 250; a 2013 Ford Bus; 2014 Ram Truck with plow; 2015 Honda Odyssey; 2014 Chevrolet Equinox; 2015 Chevrolet Equinox five 2010 Ford vans; a 2001 Chevrolet Truck; 2002 Chevrolet Dump Truck, and a 2003 Chevrolet Express.
Proceeds after expenses are to be turned over to the trustee, who represents the Southern Vermont College corporation in the Chapter 7 bankruptcy proceedings in U.S. Bankruptcy Court-Vermont, before Judge Colleen Brown.
The college’s board of trustees voted in August to voluntarily enter the Chapter 7 process, which leads to dispersal of assets and payment of debts where possible.
During the Dec. 11 hearing, the court also will consider offers for the main SVC campus and buildings and separate offers for the Gate House building at the entrance to the 371-acre campus off Monument Avenue.
Southwestern Vermont Health Care has offered $3.2 million for the campus and $300,000 for the Gate House.
Kenneth Milman said he and his wife, Bridget Elder this week offered $320,000 for the Gate House.
The offers submitted and any others that are qualified by Obuchowski prior to a deadline of Dec. 7 will go before the court on Dec. 11, when higher bids also may be entered toward completing sales.