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Claims for Sale

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Claims for Sale



Price: $5,000.00


Other Item Info
Item #: ianbke_102630
Created: 11/06/2020
Category: Business Property > Financial > Claim
Sale Date: None Set
Seller Info
Charles L Smith
Trustee
PO Box 248
Council Bluffs, IA 51502-0248
712-325-9000
Bankruptcy Info
Case #: 4:19-bk-00507
Case Title: McQuillen Place Company, LLC
Court: Iowa Northern Bankruptcy Court
Chapter: 11
View Case Docket

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Description

Sale of Claims, described as below:

The seller asserts it owns certain claims and counter-claims against First Security Bank & Trust Co. (“Bank”) and its officers, directors, agents, etc. Before the filing of the Chapter 11 Petition by the Debtor, there was (and still is) pending in the Iowa District Court in and for Floyd County a Foreclosure Petition (Case# EQCV031170) (the “State Court Action”) in which the Bank is now the named Plaintiff. In the State Court Action, the Debtor as Defendant asserted certain counter-claims against the Bank, consistent with the Debtor’s display of certain claims and counter-claims on Schedule B-75. After the filing of the counter-claim, the Bank filed a responsive Answer. No significant progress has been made toward prosecution of the counter-claim, and more described on the attached PDF.


Other Information

Terms and Conditions:

See Attached.


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