Cadence Bank, N.A. has reaffirmed the auction of Sabre Defence Industries’ assets is still on for Feb. 14 despite the federal indictment of the company’s owner Guy Savage and some key employees.
Savage and the others were charged in Federal Court on Feb. 9 with violating international firearms and trafficking laws—illegally exported firearms components to Sabre facilities in the UK. But the story has been ongoing. It initially launched back in February 2010 when agents from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) raided Sabre Defence’s facility in Nashville and since then the company has declared Article 9 bankruptcy hence it’s being auctioned by Cadence, a southeast regional bank.
In this “SabreSale” everything must go! Cadence is selling Sabre’s equipment like machinery and furniture, inventory including products and raw materials, accounts and, what sounds especially tasty, government contracts.
M2 .50 caliber machinegun bolts, barrels and receivers
M16A3 and A4
7.62 mini-gun barrels
Light aircraft barrels
According Cadence’s press release, to qualify to bid all you need is a “valid machine gun manufacturer’s licenses issued under the United States Federal firearms laws,” and deposit $100,000 to Cadence Bank, which will be refunded on Feb. 18 if you lose. Registration ends today at 1 pm central time.
Cadence is already taking bids, but the auction closes on Feb. 14.