AuctionWorks sets June 19 UCC sale of Wavy Media interests tied to Puerto Rico property

By AI, Created 4:57 PM UTC, May 18, 2026, /AGP/ – AuctionWorks will hold a virtual Article 9 UCC foreclosure sale on June 19, 2026 for membership interests in Wavy Media LLC and Wavy Property Management LLC tied to Puerto Rico real estate. The process includes a June 16 qualification deadline and a $100,000 opening deposit requirement, highlighting a secured-party enforcement action over pledged equity interests.

Why it matters: - The sale puts ownership interests tied to Puerto Rico real estate on the auction block under Article 9 of the Uniform Commercial Code. - The process shows how pledged membership interests can be liquidated when a secured party enforces collateral rights. - Qualified bidders must commit significant cash up front, signaling that this is a high-stakes, restricted sale.

What happened: - AuctionWorks, a division of AW Properties Global, LLC, said it will conduct a public UCC foreclosure sale on June 19, 2026. - The sale covers membership interests in Wavy Media LLC and Wavy Property Management LLC. - The entities are associated with real property interests in Puerto Rico. - Brian James Pfund owns 100% of the interests and pledged them as collateral to the Secured Party. - The auction will be held virtually via Zoom.

The details: - Qualified bidders must register in advance. - Bidders must submit a $100,000 deposit before bidding. - The winning bidder must increase the deposit to 25% of the successful bid by June 26, 2026 at 12:00 noon Eastern Time. - The qualification deadline is June 16, 2026 at 12:00 noon Eastern Time. - The auction date is June 19, 2026 at 11:00 a.m. Eastern Time. - The sale is being conducted to enforce the rights of the Secured Party under applicable security agreements and UCC filings. - The sale will be conducted on an “as is, where is, with all faults” basis, without any representation or warranty. - The Secured Party may credit bid. - The Secured Party also reserves the right to establish bidding procedures and to adjourn, continue or cancel the sale. - Qualified investors may obtain diligence materials and sale procedures after executing a confidentiality agreement and showing proof of financial capability. - More information is available through Diana Peterson’s contact listing and social links.

Between the lines: - The auction structure limits participation to bidders who can clear financial and diligence hurdles quickly. - The “as is” terms and the Secured Party’s ability to credit bid give the lender substantial control over the process. - The sale targets equity interests rather than the real estate itself, which can complicate the outcome for investors and creditors.

What’s next: - Interested bidders must complete qualification by June 16, 2026. - Registered bidders will compete in the live virtual auction on June 19, 2026. - The final purchase deposit must be brought to the required 25% level by June 26, 2026 at noon Eastern Time. - The Secured Party may still change, pause or cancel the sale before closing.

The bottom line: - AuctionWorks is moving forward with a tightly controlled virtual foreclosure sale of Puerto Rico-linked membership interests, and only qualified bidders with substantial cash available can participate.