The News Review:
- BLM auction monkey-wrencher faces two felonies
- Hollywood Wax Museum set to auction 200 wax celebs
- Disappointing Demand At UK GBP2.25B 4.25% 2039 Gilt Auction
- Hancock Tower auction: Gone in 60 seconds
- Agape World auction in Hauppauge fetches $40000
- Polaroid auction underway but behind schedule
- Federal judge approves liquidation of Gottschalks
BLM auction monkey-wrencher faces two felonies
Salt Lake Tribune
“Rather than follow the rule of law this defendant has in his own words repeatedly said he intended to disrupt the lease-bidding process” Tolman said. “Today’s indictment is our response to his decision. ” n the day of the auction DeChristopher signed a bidder-registration form that warned it is a federal crime to “knowingly and willfully make any false fictitious or fraudulent statements” and cited the maximum penalties: up to five years in prison and a $250000 fine. “DeChristopher represented himself as a bona fide.
Hollywood Wax Museum set to auction 200 wax celebs
The Associated Press
Fans can bid on political figures such as George Washington and Bill Clinton and athletes like Tiger Woods and Michael Jordan. Musicians such as Cher Stevie Wonder and the Fab Four will be available along with TV and film stars including Lucille Ball Johnny Carson Will Smith and Charlie Chaplin. The auction will be administered by Profiles in History and a portion of the profits will support efforts to preserve Hollywood’s historic Walk of Fame.
Disappointing Demand At UK GBP2.25B 4.25% 2039 Gilt Auction
Wall Street Journal
government’s latest gilt auction drew disappointingly low demand Thursday data from the U. Debt Management ffice showed. 25 billion tap of the 4.
Hancock Tower auction: Gone in 60 seconds
Boston Globe
5 million in preexisting debt putting the total value of the building at $660. It was an abrupt passing but the event was among the first of what real estate specialists predict will be many such auctions or forced sales of distressed properties in coming months. The Hancock auction was prompted by the failure of the now-former owner Broadway Partners which bought it in late 2006 for $1. 3 billion to make its debt payments on the property. The winning bidder was a joint venture of Normandy Real Estate Partners and Five Mile Capital Partners which began buying pieces of Broadway Partners’ debt on the building last summer as part of a loan-to-own strategy. The firms initiated foreclosure in January after Broadway Partners defaulted on some loans.
Agape World auction in Hauppauge fetches $40000
Newsday
We got much more [money] than initially anticipated. “Many bidders said they were drawn by the auction’s controversial subject among them Chris Keller who bought Cosmo’s office desk for $500 for “the history behind it. ” Keller also said he is good friends with Cosmo’s brother Tom. “The desk is where this whole story happened; it’s part of a larger story” Keller said. “The family connection makes it even more powerful. “Agape World and its subsidiaries went into Chapter 7 bankruptcy in February after Cosmo 37 was charged with mail fraud.
Related from Asportforumblog: Sports memorabilia Mercedes on Agape auction block
Polaroid auction underway but behind schedule
Bizjournals.com
The assets of the consumer electronics company are being sold as part of the ongoing bankruptcy of Petters Co. Polaroid a cornerstone of the Massachusetts economy for decades before it ultimately filed for bankruptcy protection in 2001 once again filed for bankruptcy late last year.
Federal judge approves liquidation of Gottschalks
MiamiHerald.com
A consortium of liquidators including SB Capital Group of New York Tiger Capital Group of Boston Great American Group of Los Angeles and Hudson Capital Partners of Newton Mass. beat out one other competitor Monday. The Monday auction lasted 12 hours and went through “dozens of rounds” said Warren of Los Angeles-based firm ‘Melveny & Myers which represents Gottschalks. The winning consortium guaranteed a 98 percent return on Gottschalks’ inventory costs which are valued at about $106 million. An additional $3 million was offered for fixtures and equipment. Warren and Famalette called this a good price. The revenues will be used to pay off the stores’ creditors whose names are spelled out in more than 500 pages of court documents.