NOTICE OF SALE OF VESSEL
UNITED STATES DISTRICT COURT
SOUTHERN DISTRICT OF
No. 02CV1957 IEG (POR)
NOTICE is hereby given that the 76' Motor Yacht (M/Y) FULL CIRCLE Official Number 732842, Registered in George Town, Cayman Islands, and all of her engines, tackle, accessories, equipment, furnishings and appurtenances ("M/Y FULL CIRCLE"), currently berthed at Driscoll Boatworks located at 2500 Shelter Island Drive in San Diego, California, will be sold by the United States Marshal at public auction to the highest bidder under order of the United States District Court for the Southern District of California in the action entitled "DRISCOLL, INC., a California corporation, dba DRISCOLL BOAT WORKS, Plaintiff, vs. M/Y FULL CIRCLE, U.S.C.G., Official Number 958224, and all of her engines, tackle, accessories, equipment, furnishings and appurtenances, in rem; and DC HOLDING, INC., a Delaware corporation, and KEN MITAN and CHIP MACPHEARSON, in personam, Defendants, DEBIS FINANCIAL SERVICES, INC., a Delaware corporation, Plaintiff-in-Intervention, vs. M/Y FULL CIRCLE, Official Number 732842, Registered in George Town, Cayman Islands, and all if her engines, tackle, accessories, equipment, furnishings and appurtenances, in rem; STAR MARINE HOLDINGS, INC., a company incorporated and existing under the laws of the Cayman Islands; in personam, Defendants-in-Intervention."
The sale shall be on May 30, 2003 at 10:00 a.m. at 2500 Shelter Island Drive, San Diego, California. The vessel will be sold free and clear of all liens on an "as is, where is" basis. The sale shall proceed according to Local Civil Rule E.1 of the United States District Court for the Southern District of California. A cash deposit, certified check or cashier's check payable to the U.S. Marshal of ten percent (10%) of the amount of the winning bid will be required from the highest bidder immediately at the time of sale. The remaining ninety percent (90%) must be paid to the Court in cash, certified check, or cashier's check within three (3) days of the date of the sale, exclusive of holidays or weekends, otherwise the ten percent (10%) deposit will be forfeited. Bidding will be made in minimum increments of $5,000. Plaintiff-In_Intervention mortgagee may credit bid at said sale up to the maximum amount of its lien, together with interest and costs of suit, without being required to deliver any earnest money to the Marshal, said bid being deemed paid in full for purposes of confirmation of sale on the date said bid is made.
If any objections to the sale are made, they must be made in writing within a period of three (3) days following sale of the vessel. Objections to confirmation of sale property and timely filed will be adjudicated by the Court. Any objecting party shall serve copies of written objections to all known and interested parties, said parties to include the United States Marshal and the purchaser, and shall further do all things required by local Admiralty Rules of the United States District Court for the Southern District of California.
Prior to said sale, the United States Marshal and the vessel's substitute custodian, Driscoll Boatworks, shall upon reasonable notice to the substitute custodian and at the person's own risk and after signing a hold harmless agreement, permit prospective purchasers to board the vessel to inspect and/or survey the vessel. Interested parties should contact Kurt Micklow, Banning Micklow Bull & Lopez LLP, 100 Spear Street, San Francisco, CA, Telephone: (415)399-9191 for further information.
STEVEN C. STAFFORD
Acting United States Marshall
Southern District of California
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