Marcel Contraband Pointe - Bidding Procedures / APA Summary

Bidding Procedures / Asset Purchase Agreement Summary

Parties Involved

• Seller: Marcel Contraband Pointe, LLC (the "Debtor")
• Stalking Horse Bidder: First Federal Bank
• First Federal Bank is also the Debtor's prepetition lender, having financed the property and holding a first-priority mortgage. The parties have entered into a Restructuring Support Agreement (RSA) to facilitate the sale process.

Assets Being Sold

• The Debtor's primary asset, an approximately 8.6-acre mixed-use commercial real estate property known as "Contraband Pointe," located in Lake Charles, Louisiana.

Stalking Horse Bid

• Purchase Price: $15 million

Bid Protections

• Break-Up Fee: None

Overbid

• Initial Overbid: $15,130,000 ($130,000 greater than the Stalking Horse Bid)
• Minimum Overbid Increment: $50,000

Sale Process & Auction

• The Debtor will market the property for sale on LoopNet, an online commercial real estate marketplace.
• An auction will be conducted if one or more qualified bids are submitted.

Other Terms

• The Debtor seeks to sell the property free and clear of all liens, claims, and encumbrances pursuant to section 363(f) of the Bankruptcy Code.
• The Debtor requests that the successful bidder be deemed a good-faith purchaser entitled to the protections of section 363(m).
• To facilitate an expedited closing, the Debtor has requested a waiver of the 14-day stay period under Bankruptcy Rule 6004(h).

Key Dates

• Bidding Procedures Hearing: Dec. 2, 2025, at 2:30 p.m. CT
• Qualified Bid Deadline: Jan. 5, 2026, at 5:00 p.m. CT
• Auction (if necessary): Jan. 7, 2026, at 10:30 a.m. CT
• Sale Hearing: Jan. 14, 2026, at 10:30 a.m. CT
• Closing Deadline: Jan. 30, 2026