GENOVA, MALIN & TRIER, LLP
Attorneys for the Debtor
1136 Route 9
Wappingers Falls, NY 12590
(845) 298-1600
Andrea B. Malin, Esq. (AM4424)
Michelle L. Trier, Esq. (MT1212)
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
POUGHKEEPSIE DIVISION
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IN RE: CHAPTER 11
MEADOW CREEK FARM
OF NY REALTY, LLC, CASE NO. 25-35241 (KYP)
Debtor.
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NOTICE OF INTENDED SALE
Notice is hereby given that on JULY 14, 2026 at 10:00 a.m., at the United States Bankruptcy Court, 355 Main Street, Poughkeepsie, New York, the above-captioned debtor, pursuant to 11 U.S.C. §§363(b) and 363(f) intends to sell the following:
REAL PROPERTY LOCATED AT 321 SKIDMORE ROAD,
PLEASANT VALLEY, NEW YORK 12569
1. This notice is given in order to permit parties in interest to object to the intended sale and request a hearing. Unless a party in interest files a written objection and request for hearing before 4:00 p.m. on July 7, 2025, the intended sale described in this notice will go forward. Objections stating the reason therefor should be filed with the U. S. Bankruptcy Court, 355 Main Street, Poughkeepsie, New York 12601 with copies to the debtor’s attorney at the address shown below and the U.S. Trustee, 11A Clinton Avenue, Room 620, Albany, New York, 12207.
2. In the event of any written objections and requests for a hearing, the Bankruptcy Court will schedule a hearing on appropriate notice.
3. Terms of sale: Bank or wire transfer only, unless other terms have been agreed to in advance by the debtor in accordance with the terms and conditions of the contract to be approved by the Court, and as is further set forth in the attached Bid Procedures previously approved by the Court. A good faith cash deposit will be required under the Court-approved Bid Procedures.
4. All deadlines, requirements for being designated a Qualified Bidder and the date of the Auction, if any, are set forth in the attached Court-approved Bid Procedures.
5. The debtor reserves the right to reject bids which in its opinion are insufficient or do not conform to the terms of the sale and without further notice, except as orally announced at said sale or continuance thereof, to continue the sale from time to time and from place to place.
6. An offer has been made by BRIAN AND SARAH TORMEY, as the initial bidder, in the amount of $510,000.00 to acquire the debtor’s real property located at 321 Skidmore Road, Pleasant Valley, New York and the debtor intends to accept the same unless a higher and better offer is timely received in writing prior to the scheduled Auction pursuant to the Bid Procedures or made at the time of the Auction as set forth in the Bid Procedures. The full offer of the initial bidder is on file with the Clerk’s Office of the Court.
Dated: Wappingers Falls, New York
May 22, 2026
GENOVA, MALIN & TRIER, LLP
Attorneys for Debtor
By: /s/ Michelle L. Trier
Michelle L. Trier (MT1212)
Hampton Business Center
1136 Route 9
Wappingers Falls, NY 12590
(845) 298-1600
michelle@gmtllp.com
UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF NEW YORK
___________________________x
In re: Chapter 11
MEADOW CREEK FARM
OF NY REALTY, LLC,
Debtor. Case No. 25-35241 (KYP)
___________________________x
BID PROCEDURES
The following bid procedures (the “Bid Procedures”) have been approved and authorized by the United States Bankruptcy Court for the Southern District of New York (the “Bankruptcy Court”) in the above-captioned chapter 11 case of Meadow Creek Farm of NY Realty, LLC (the “Debtor”) in connection with the Debtor’s contemplated sale (the “Sale”) of its real property located at 321 Skidmore Road, Pleasant Valley, New York 12569 (the “Property”) free and clear of any and all liens, claims, encumbrances, and interests, pursuant to Section 363 of the Bankruptcy Code, and shall govern the bid process and the auction, if any (the “Auction”), to be conducted to solicit higher and better offers for the Property. At a hearing held on May 19, 2026, the Bankruptcy Court approved Brian & Sarah Tormey (the “Initial Bidder”) as the initial bidder for the Property pursuant to the Offer to Purchase, dated as of April 10, 2026 (the “Offer”).
Access to Due Diligence Materials
The Debtor shall afford all potential bidders reasonable due diligence access to the Property so that all due diligence may be completed prior to the Bid Deadline (as defined below).
Bid Deadline and Bid Requirements
Any potential bidder that wishes to bid shall submit its bid so as to be received by email to counsel to the Debtor, Michelle Trier, Genova, Malin & Trier, LLP, at michelle@gmtllp.com,by June 15, 2026 at 4:00 p.m. (prevailing New York, New York time) (the “Bid Deadline”).
A bid received after the Bid Deadline shall not constitute a Qualified Bid (as defined below). To be a qualified bidder eligible to participate in the Auction (“Qualified Bidder”), a bidder must comply with each of the following conditions:
Proof of Funds: A bid shall include proof of available funds to purchase the Property.
Conditions/Contingencies: A bid shall not be subject to any conditions or contingencies to closing, including without limitation obtaining financing, internal approvals or further due diligence. A Qualified Bid shall be on an “as is, where is” basis.
Good Faith Deposit: A bid shall be accompanied by a good faith deposit equal to 10% of the purchase price set forth in the bidder’s offer wired to Debtor’s counsel to hold in escrow in accordance with the purchase agreement (“Good Faith Deposit”).
Minimum Bid Requirement: Each Qualified Bidder’s bid (i.e., the purchase price set forth in the Offer) shall be no less than $510,000.00.
Assurance of Consummation and Future Performance: Each bid must contain evidence satisfactory to the Debtor that the bidder is reasonably likely (based upon availability of financing, experience and other considerations) to timely consummate a sale transaction if selected as the Successful Bidder (as defined below) and to adequately perform its obligations under any contracts it proposes to be assumed and assigned.
Irrevocable: A bid must be irrevocable until five (5) business days after the closing of the sale pursuant to an order of the Bankruptcy Court that is no longer subject to appeal, modification or reconsideration.
No Fees: A Qualified Bidder shall not request any breakup fee, termination fee, expense reimbursement, or any similar type of payment or credit against its bid. By submitting a bid, a Qualified Bidder shall be deemed to waive the right to pursue a substantial contribution claim under Section 503 of the Bankruptcy Code relating in any way to the submission of its bid, compliance with the Bid Procedures or participation in the Auction.
Identity of Bidder: A bid must identify the bidder and any relationships that the bidder may have with the Debtor, the Debtor’s member (Helaina Ricciardi), and the member’s operating company (Meadow Creek Farm of New York Inc.), and shall include a representation that the bidder has not colluded with the Debtor or any other party with respect to the bidding and will not engage in any collusion with the Debtor or any other party with respect to the Auction. A Qualified Bidder shall not engage in any collusion with respect to the bidding or the Auction.
Closing: A Qualified Bidder shall certify that, if it is the Successful Bidder, closing on any sale of the Property shall occur within 14 days after the Bankruptcy Court enters the Sale Order (as defined below).
A bid received from a Qualified Bidder on or before the Bid Deadline that meets the above requirements shall constitute a “Qualified Bid.” In the event that a bid is determined by the Debtor not to be a Qualified Bid, such bidder shall be refunded its Good Faith Deposit within three (3) business days of that determination.
The Initial Bidder is a Qualified Bidder and the Offer is a Qualified Bid.
Wells Fargo Bank, N.A. (“Wells Fargo”), a secured creditor, is a Qualified Bidder and entitled to credit bid at the Auction.
Credit Bid
Wells Fargo shall have the right to submit a credit bid for the Property and shall be permitted to credit bid at the Auction in any amount up to its debt of $797,813.31 as of the Petition Date (the “Secured Debt”). Wells Fargo shall notify the Debtor in writing whether or not it intends to credit bid by no later than the Bid Deadline. Wells Fargo is a Qualified Bidder and any credit bid it submits is a Qualified Bid. A credit bid submitted by Wells Fargo shall not be subject to the conditions for a Qualified Bid otherwise set forth in these Bid Procedures.
“As Is Where Is”
The sale of the Property shall be on an “as is, where is” basis without representations or warranties of any kind or nature, except as may be set forth in the respective definitive purchase agreement(s) with the party who submits the Successful Bid (the “Successful Bidder”) or the party who submits the Back-Up Bid (the “Back-up Bidder”), as applicable (the Successful Bid and the Back-Up Bid are defined below). Except as may be set forth in the definitive purchase agreement(s), the Property shall be sold free and clear of any and all liens, claims, security interests, restrictions, charges and encumbrances of any kind or nature to the fullest extent permissible under the Bankruptcy Code, with such to attach to the proceeds of sale in their order of priority.
Auction
In the event that one or more Qualified Bids (other than the bid of the Initial Bidder) are received, the Debtor shall conduct the Auction to determine the highest and best bid for the Property beginning at 10:00 a.m. (prevailing New York, New York time) on June 19, 2026 at the offices of Debtor’s counsel, Genova, Malin & Trier, LLP, 1136 Route 9, Wappingers Falls, New
York 12590 or at such other date, time and place as the Debtor shall notify Wells Fargo and all
Qualified Bidders, including remotely by means accessible to Wells Fargo and all Qualified Bidders, which notice shall include disclosure of the highest and best Qualified Bid received by the Bid Deadline. There will be no Auction if there are no Qualified Bids other than the bid of the Initial Bidder and Wells Fargo has notified the Debtor in writing that it does not intend to credit bid at the Auction. In such event, the Initial Bidder shall be deemed the Successful Bidder and the Offer shall be deemed the Successful Bid.
Only the Debtor, Wells Fargo and all Qualified Bidders, including in each case their respective advisors, will be permitted to attend the Auction.
At the opening of the Auction, the Debtor shall announce the then highest and best Qualified Bid (the “Baseline Bid”), and the manner in which bidding will proceed. Bidding thereafter shall be made on an open basis, on the record of the Auction, and all material terms of each successive bid shall be fully disclosed to all other Qualified Bidders (including the Initial Bidder) present at the Auction.
The Debtor may announce at the Auction such additional rules that it believes reasonable and necessary to maximize the value of its estate, so long as such rules are not inconsistent with the Bid Procedures. Notwithstanding anything to the contrary, in no event shall the Auction be conducted as a “sealed-bid” auction.
Overbids
Each bid made at the Auction following announcement of the Baseline Bid must be in increments of at least $25,000, provided that, any overbid shall provide for total consideration that exceeds the value of the total consideration of the prior bid by an incremental amount that is not less than $25,000 in cash. An overbid made by a Qualified Bidder must remain open and binding on the Qualified Bidder until and unless the Debtor accepts a higher Qualified Bid as an overbid. The Debtor shall announce at the Auction the material terms of each overbid.
Successful Bid
At the conclusion of the Auction, if any, the Debtor shall determine in the exercise of its reasonable business judgment the highest and best bid (the “Successful Bid”). Subject to the foregoing, the Debtor will also select the next highest or otherwise best offer after the Successful Bid as a back-up bid (the “Back-Up Bid”). The Successful Bidder, whether deemed to be the Initial Bidder or at the conclusion of the Auction, if any, shall promptly enter into a purchase agreement with the Debtor consistent with the terms of its Successful Bid (the “Contract”).
Sale Hearing and Closing
The Debtor shall seek approval of the Successful Bid and the Contract at a sale hearing (the “Sale Hearing”) to be conducted by the Bankruptcy Court on July 14, 2026 or at such later date as may be established by the Bankruptcy Court, upon notice to the Office of the United States Trustee, the Debtor’s 20 largest unsecured creditors, all known lienholders with an interest in the Property, counsel for Wells Fargo, the Initial Bidder, the Successful Bidder, and any Back-Up Bidder, and all parties required to be notified under the United States Bankruptcy Rules and
Local Rules. The Debtor will not have accepted the Successful Bid unless and until the
Bankruptcy Court has approved the Successful Bid at the Sale Hearing and entered a sale order (the “Sale Order”). The party with the Successful Bid must be able to close on the purchase of the Property on an initial basis by the later of fourteen (14) days after entry of an Order by the Bankruptcy Court approving the sale of the Property to the Successful Bidder (the “Closing”).
Return of Good Faith Deposit
If applicable, the Good Faith Deposit of the Successful Bidder shall be applied to the purchase price of such transaction at the final Closing. The Good Faith Deposit of the Back-Up Bidder shall be held in an interest-bearing account until five (5) days after the final Closing of the transactions contemplated by the Successful Bid, and thereafter returned to the Back-Up Bidder. Good Faith Deposits of all other Qualified Bidders shall be held in a non-interestbearing escrow account and promptly returned to the respective Qualified Bidders after entry of the Sale Order. If a Successful Bidder or the Back-Up Bidder, as applicable, fails to consummate an approved sale because of a breach or failure to perform on the part of such bidder, the Debtor shall be entitled to retain the Good Faith Deposit as its damages resulting from the breach or failure to perform by such bidder.
Reservation of Rights
Wells Fargo reserves all rights with respect to the Secured Debt, including all rights as to the balance of the Secured Debt that may be due in the event that a Qualified Bidder, or Wells Fargo based on a credit bid, is the Successful Bidder with a bid that is less than the full amount of the Secured Debt. 12356247