[DML] Re: JZD House Bedminster Estate on "The Apprentice" last night

["David Teitelbaum" <jtrealty@xxxxxxxxxxx>]

Actually as I understand it JZD filed for bankrupcy protection from
the excessive legal fees from a lawyer in Detroit who wanted an absurd
amount of money for the trouble JZD was in years ago. He filed to
PROTECT his estate from the lawyer. The lawyer was able to convince
the bankrupcy judge that it was in the creditor's best interest to
sell the estate so it was sold by the trustee. JZD had filed a plan
that would have paid most of the fees off but the court didn't go for
it. Generally in a bankrupcy the creditors wind up with pennies on the
dollar, in this case the lawyer got near 100 cents on the dollar! Of
course if anyone has any better, more accurate info I am sure they
will pass it along, this is how I understand what happened. Too bad
the laws in New Jersey aren't like Florida. In Florida they can't take
your house! This was the largest privetely held piece of land in New
Jersey at 454 acres! It has frontage on RT 287.
David Teitelbaum
vin 10757



--- In dmcnews@xxxxxxxxxxxxxxx, "thebrave65" <johnnysher1@xxxx> wrote:
> Yeah it's called bankrupcy/attorney fees.
> 
> Johnny
> 5518
> 
> 
> > CG




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