Missouri Auctioneer
FDIC: FDIC Real Estate Retrieval System
Although information has been obtained from sources deemed reliable, FDIC, the broker, the auctioneer and/or their representatives make no guarantee as to the accuracy of the information contained herein and offer all properties without expressed or implied warranty of any kind. All information is subject to verification and no liability for errors or omission is assumed. ... [Read More]
In re Hudson , 97-25073 MSK, slip op. (Bankr. D. Colo. December 10, 1998). Sometimes busy trustees can slip up and not get the timely and necessary authorization to employ a professional or conduct a sale. That is understandable. What is not understandable is an attempt to cover up the error. Here, the trustee filed an application to employ an auctioneer and to sell property. The application to employ was not properly supported and was denied. Notwithstanding that denial, the trustee and the auctioneer proceeded to go ahead with the sale on July 11, as scheduled. The trustee then filed a supplemental Notice Pursuant to 202 to Hire the auctioneer, representing that the auction sale would be held on or after August 31, and giving the debtor until August 18 to object. HELD: (1) The auctioneer must be denied compensation for his services. (2) The trustee is denied all compensation for services rendered in the estate. ... [Read More]
Bankruptcy Criminal Cases 1999
Auctioneer J. Max McCaskill pleaded guilty Nov. 2 in the District of South Carolina to two counts of embezzlement from bankruptcy estates. McCaskill was a former Bankruptcy Court deputy clerk and a former employee of a bankruptcy trustee in South Carolina. While employed to auction bankruptcy estate property, he sold the property but failed to turn over the proceeds to the bankruptcy trustee. ... [Read More]
Advisory Circular 150/5100-17 - Chapter 4
5-9. PURCHASE OF SUBSTITUTE PERSONAL PROPERTY . If the displacedbusiness, farm, or NPO is to be reestablished and an item of personal propertywhich is used in connection with the business is not moved but promptlyreplaced with a substitute item that performs a comparable function atthe replacement site, the displaced person may claim the lesser of the: (1) The cost of the substitute item, including installation costs at thereplacement site, minus any proceeds from the sale or trade-in of the replaceditem; or (2) The estimated cost of moving and reinstalling the item, but with noallowance for storage. At the sponsor's discretion the estimated cost fora low cost or uncomplicated move may be based on a single bid or estimate. The reasonable cost incurred in attempting to sell, (i.e. advertising,agent/auctioneer expense), an item that is not relocated may be reimbursed.Ownership of personal property that is not sold after good faith attemptsare made may be transferred to the sponsor, o ... [Read More]
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