Below-Market Park Ave. Office Lease, Furniture, Other Assets Of Bankrupt Mantara Up For Bid

-- Tiger Group conducts online sale for networking, office equipment other assets; bids close Jan. 21

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Jan 15, 2014, 02:01 ET

NEW YORK, Jan. 15, 2014 /PRNewswire/ -- By order of the U.S. Bankruptcy Court, Tiger Group's Remarketing Services Division is auctioning computer server and networking equipment, as well as designer office furniture and other office equipment formerly owned by the global electronic trading platform firm Mantara Inc. in an online sale that closes later this month. A below-market lease for the bankrupt company's Park Ave. penthouse office is also being offered in a separate sealed bid auction.

Bidding is now underway on the former assets of the company at www.SoldTiger.com and will close online in rapid succession, live auction style, on January 21 at 10:30 a.m. (ET). The assets will be available for inspection at 215 Park Avenue South, Suite 2001, New York, N.Y., on January 20 from 10:00 a.m. to 4:00 p.m. (ET).

In the sealed bid offering that closes at 3:00 p.m. (ET) on January 20, Tiger is offering, subject to Bankruptcy Court approval, the right and interest in the remaining below-market lease on Mantara's 4,700-square-foot ± headquarters, which provides sweeping western views of Manhattan and New Jersey. The winning lease bidder will also retain the rights to the former tenant's $235,000 security deposit.

"Sales of this nature are a great opportunity for businesses – large and small – to purchase late model office and computer equipment at discount auction prices," said Jeff Tanenbaum, president of Tiger Remarketing Services.

More than 30 Apple, Dell, HP and Compaq computers and workstations will be offered in the online auction, along with over 75 large, HD flat panel monitors from Dell, HP, LG, and Asus, as well as more than 100 HP and Dell servers, including G7 and G8 models. A Dell projector system, an HD NTSC Video Conference System and other AV equipment will also be available. Office furnishings being offered include Knoll Generation executive chairs and Raynor Apollo chairs; double pedestal and U-shaped desks; conference tables and chairs; along with a stainless steel refrigerator and other break room/ kitchen equipment.

Mantara Inc. voluntarily filed for Chapter 11 Bankruptcy Protection in October 2013 in the New York Southern Bankruptcy Court (case number 1:13-bk-13370).

For a full description of the assets being auctioned and details on how to bid, visit: www.SoldTiger.com

About Tiger Group
Tiger Group provides asset valuation, advisory and disposition services to a broad range of retail, wholesale, and industrial clients. With over 40 years of experience and significant financial backing, Tiger offers a uniquely nimble combination of expertise, innovation and financial resources to drive results. Tiger's seasoned professionals help clients identify the underlying value of assets, monitor asset risk factors and, when needed, provide capital or convert assets to capital quickly and decisively. Tiger's collaborative, straight-forward approach is the foundation for its many long-term 'partner' relationships and decades of success. Tiger operates main offices in Boston, Los Angeles and New York. To learn more about Tiger, please visit www.TigerGroup.com.

SOURCE Tiger Group