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Litigation Claims and Development Interests for Sale
Listing Information
Attachments
Litigation Claims and Development Interests for Sale
Price: $10,000.00
Other Item Info
Item #: flmbke_1185961
Created: 10/12/2019
Category: Business Property > Financial > Other
Sale Date: None Set
Created: 10/12/2019
Category: Business Property > Financial > Other
Sale Date: None Set
Seller Info
L Todd Budgen
Trustee's Attorney
PO Box 520546
Longwood, FL 32752
(407) 481-2888
Trustee's Attorney
PO Box 520546
Longwood, FL 32752
(407) 481-2888
Bankruptcy Info
Description
Sale of Litigation Claims and Development Interests, described as below:
(i) Litigation Claims:
- The Seller and PRN Real Estate & Investments, Ltd. (“PRN”) and Nancy A. Rossman (“Rossman”, and collectively with PRN, the “PRN Parties”) are litigants in that certain case styled PRN Real Estate & Investments, Ltd. and Nancy A. Rossman v. William W. Cole, Jr., et al., which is pending in the CircuitCourt in and for Orange County, Florida, case no. 2014-CA- 011835-O (the “State Court Action”);
- The Seller asserted certain counterclaims (the “Counterclaims”) against the PRN Parties, either collectively or individually, in the State Court Action;
- Property of the Seller's estate includes the Counterclaims, all claims and causes of action (collectively with the Counterclaims, the “Claims”) that the Seller had or may have had, whether known or unknown from the beginning of time through July 27, 2015 (the “Petition Date”), against the PRN Parties, whether collectively or individually.
(ii) Development Interests:
- 250 shares of stock in Waterford Investment Properties, Inc.;
- 1,515 shares of stock in Riverside Tributary, Inc.;
- Any profits, losses and distribution rights resulting from 50% partnership interest in C&G Investment Properties, LLP; and
- The Seller's interests under that certain Agreement dated March 31, 2008, by and between PRN Real Estate & Investments, Ltd. and William W. Cole, Jr.
Financial Overview
Income and Expenses ($)
months
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Asset and Liability Summary ($)
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Liabilities to assume:
Additional Details
- Bid Deposit: 10% of the proposed higher purchase price
- Bid Deadline: 24 days from the date of service
- Date of Service: October 9, 2019