SECURED PARTY PUBLIC AUCTION OF MOTOR VEHICLE RETAIL INSTALLMENT CONTRACTS AND REPOSSESSED MOTOR VEHICLES
Notice is hereby given that, pursuant to Uniform Commercial Code section 9-610, PCP Portfolio Asset Entity I LLC (Secured Party), as the holder of a valid, perfected security interest, will sell at public auction as described below (Auction) to the highest Qualified Bidder (as defined below) all right, title and interest in the Collateral described below pursuant to the following terms and conditions:
The Collateral to be sold consist of a portfolio of motor vehicle retail installment contracts, together with all underlying rights to the motor vehicles secured therein (RICs), and repossessed motor vehicles (Vehicles) (collectively Collateral). The Collateral is currently owned by Fergus Capital Auto Receivables I, LLC and Fergus Capital, LLC (collectively Debtor), who is in default of Debtor's secured credit obligations to the Secured Party.
As of October 31, 2026, the Collateral consists of:
RICs. Approximately 875 RICs with an aggregate unpaid principal balance of $7,752,640.79 which were originated with consumers located in Alabama, Florida, Georgia, Kentucky, Mississippi, Missouri, New Hampshire, North Carolina, Ohio, Pennsylvania, South Carolina, Tennessee and Texas, and
The Collateral will be offered for sale as a single, unified asset lot on a bulk-sale basis. Bids for individual RICs, Vehicles or sub-portfolios of either will not be accepted.
DISCLAIMER NOTICES: The number of active RICs, aggregate unpaid principal balance, consumer location, number and location of Vehicles and repossession statuses are dynamic and subject to change through normal servicing and repossession activities occurring in the ordinary course from October 31, 2026 to the date of the Auction.
The Collateral is sold strictly on an "AS-IS, WHERE-IS" basis, with all faults, and without any express or implied guarantees, representations and/or warranties of any kind or nature, including but not limited to of fitness for a particular purpose, enforceability and/or collectability of the RICs and/or the location, physical condition, title or recoverability of any Vehicle and that the Secured Party, the auctioneer and any of their respective employees, agents, representatives, attorneys, consultants and/or advisors expressly disclaim any such guarantees, representations and/or warranties.
To perform due diligence, access to a Virtual Data Room (VDR) will be provided to qualified bidders (Qualified Bidder(s)). To be a Qualified Bidder, you must:
Execute and return a Confidentiality and Non-Disclosure Agreement (NDA). You must request and return a signed copy of the Secured Party's NDA via the contact information below.
Execute and return an acknowledgement of the Bidder's Acknowledgement. You must request and return a signed copy of the Secured Party's Bidder's Acknowledgement of Terms and Conditions of Auction (Bidder's Acknowledgement) via the contact information below.
Demonstrate financial capability. Provide reasonable evidence of financial capability to close a transaction of this scale.
Qualified Bidders will receive secure, credentialed access to the VDR. Data available in the VDR has been exported directly from the Debtor's Dealer Management System (DMS).
DISCLAIMER NOTICES: The Secured Party makes no guarantees, representations and/or warranties regarding the accuracy, completeness or integrity of any information and/or documents made available in the VDR, including the Debtor's DMS records, consumer payment histories, lien perfection status and/or compliance with any applicable law.
The live portion of the Auction will take place at:
Date of Auction: December 4, 2026
Time of Auction: 1:00 pm CST
Location of Auction: 500 N. Akard Street, Suite 2200
Dallas, Texas 75201
The participate in the live portion of the Auction, Qualified Bidders must, by December 2, 2026 at 5:00 pm (CST):
Become Qualified Bidder. Complete the requirements to become a Qualified Bidder pursuant to section 3.
Submit Sealed Bid. Submit a sealed bid in writing using the Bid Submission Form in the VDR (Sealed Bid).
Make Deposit. Wire a refundable earnest money deposit equal to 10% of the Sealed Bid (Deposit) pursuant to the instructions obtained via the contact information.
At the live portion of the Auction:
Live bidding. The highest Sealed Bid will be the opening bid at the live portion of the Auction. All parties who submitted a Sealed Bid will be notified by email on December 3, 2026 of the opening bid. Bidding at the live portion of the Auction will begin in increments of $50,000. The auctioneer may, in his or her sole discretion, increase or decrease the bidding increments at any time during the live portion of the Auction to facilitate competitive bidding and ensure an orderly disposition of the Collateral. The auctioneer may, in his or her sole discretion, reject any bid which, in his or her sound judgment, is made without the intention of completing the sale if that bid were to be the winning bid.
Winning bid. The highest bid accepted by the auctioneer shall be the winning bid, subject to validation of the bidder's status as a Qualified Bidder. The remaining balance of the winning bid (i.e., the purchase price less the winning bidder's Deposit without interest) must be paid to the Secured Party via wire transfer within forty-eight (48) hours of the conclusion of the Auction. If the winning bidder fails to wire the remaining balance within the designated timeframe, they will be in default and the Deposit will be forfeited to the Secured Party as liquidated damages. The Secured Party may award the Collateral to the Qualified Bidder making the next highest bid or reschedule the Auction.
Disposition of Deposit. All Deposits will be held in escrow pending the outcome of the Auction. The Deposit by the winning bidder will be credited, without interest, to the winning bid. If the winning bidder fails to wire the balance of the purchase price within forty-eight (48) hours, the Deposit will be forfeited to the Secured Party. All other Deposits will be returned without interest within 2 business days of the Auction.
Bill of sale. The Secured Party and/or the winning bidder will execute any document the Secured Party, in its sole discretion, deems reasonably necessary, to complete the Auction and convey title to the Collateral to the winning bidder.
Void Auction. If, for any reason, a completed Auction is determined to be void pursuant to applicable law, the winning bidder's purchase price, including Deposit, will be returned without interest, in exchange for a return of the Collateral and cancelation of any bill of sale or other conveyance document. The winning bidder must execute any document the Secured Party, in its sole discretion, deems reasonably necessary to vacate the Auction and/or cancel any bill of sale or other conveyance document. A return of the purchase price, including Deposit, without interest, shall be the winning bidder's sole and exclusive remedy.
Canceled or rescheduled Auction. If, for any reason, the Auction is canceled and/or rescheduled, all Deposits will be returned without interest and the return of the Deposit, without interest, shall be the Qualified Bidder's sole and exclusive remedy. Any subsequent or rescheduled Auction will proceeds upon the terms and conditions set forth in the disposition notice for that sale, which may or may not be the same set forth herein.
SECURED PARTY'S RIGHTS: The Secured Party reserves the right to reject any bid that it deems collusive or commercially unreasonable. The Secured Party further reserves the right to cancel or adjourn the live portion of the Auction. The Secured Party further reserves the right to directly (or through a designated affiliate, subsidiary or nominee, including PCP Enterprises Portfolio DST by and through UMB Bank, National Association) to credit bid up to the full amount of its secured obligation at the sale without cash contribution.