Judgement in the Amount of $1,900,000!

Description

Item Id: Weiss01
Case Name: Weiss, Seth
Case Number: 13 23046
Trustee:
Starting Minimum Bid: $24,995

Description: A civil action Settlement of judgment / restitution on behalf of Spivak Funding, LLC, etc all and Westcliffe Opportunity Fund, LP, and the debtor (Weiss) with Defendant Ryan Smith vs Spivak Funding, LLC, et al and versus Arnold Zaler, et al.. Case Number 06CV12423, dated January 29,2010 issued by the District Court, Denver County, State of Colorado. One of the defendants (Ryan Smith) agreed to the settlement. The other (Arnold Zaler) has moved out of the United States to Israel.
Awarded in the District Court to the debtor and Westcliffe Case # 06CV12423. Monetary amount to Weiss was $1,900,000

The settlement agreement, signed by Smith, pays 12% annually of Smith’s take-home pay through the year 2036 with the final payment due March 15, 2037. It also surrenders 50% of any inheritance or trust distributions he is to receive along with 100% of lottery, gaming, and gambling proceeds.

Between September 13, 2013–July 24, 2017, a total of $38,503.80 has been paid to the debtor by the defendant (Smith). The other defendant (Zaler) has not paid and is not living in the U.S.

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UPDATE FROM TRUSTEE 10/17/17:
“Payments received since 7/27/17 are $7,466.00 on August 3, 2017, and $3,555.15 on September 26, 2017. The first was the annual payment due from the Defendant under the Settlement Agreement. The second was a US Treasury check from an intercepted tax refund. have not yet determined whose refund was offset.”

Settlement Agreement See Link below:
Settlement Agreement with Smith

Payout History: See Link below:
PAYMENT HISTORY RE RYAN SMITH

Notes: A closing cost fee of $200 will apply. This is all we know about this item. Any fees/liens owing on this item are not part of the final bid price. A bid submitted by a buyer is an agreement to our Terms. Buyers should not bid unless they fully intend to complete the sale in accordance with our Terms (to view terms, click “Terms” tab in Seller Store header at top of ad).

Bidders should familiarize themselves with BKAssets policy regarding ‘Proxy Bidding’ (see ‘Bidding Guide’ on bkassets.com Home Screen). BKAssets is not responsible for connectivity issues, or Internet transmission times, when submitting an auction bid near the close of auction. The auction process does not extend past the set close time of the auction and bidders are solely responsible for the timing and receipt of their bids if they elect not to utilize Proxy bidding.

** BKAssets.com has retained the services of an outside collection agency specializing in judgments who may be willing to assist the winning bidder in pursuing, and collecting, on the judgment from the defendant. This asset has been pre-approved for this assistance by both BKAssets and the collection agency.
This service is an option for the winning bidder if they so choose to accept. It is NOT provided automatically by BKAssets.com.
This agreement with BKAssets.com is on a contingency basis. If the winning bidder elects to accept this service by the collection agency, should any payments be received, the collection agency will have the right to maintain up to 33% of the funds on 2nd placements/judgments and 15% for 1st judgments collected on behalf of the winning bidder. There is no up-front fee to the buyer for the service. The agency is only paid if they are successful in their efforts obtaining payment directly from the defendant.**

Title and Escrow:

Legal Info: By Order of the United States Bankruptcy Court, Bkassets.com sells this and any other property / asset “AS IS, WHERE IS”, with no warranties implied or stated. This means that the Seller and the trustee are not responsible for problems (if any) with the title, the condition of the property or judgment, or any liens or encumbrances against the unit. The buyer will be entirely responsible for this property/assignment after the sale including but not limited to: paying any fees/costs associated with this property, paying all fees/liens (if any), recording/transferring the title and gathering any paperwork/documentation necessary for that process and for collection of the judgment. Seller and trustee are NOT appraisers or judgment brokers. BKAssets and the trustee shall be under no obligation to buyer except to provide buyer with an assignment. All the information as to the item description has been provided by the court. BKAssets cannot guarantee that all the information is accurate. BKAssets recommends all bidders perform their own due diligence prior to bidding. As with any bankruptcy sale, this sale may be subject to court approval

Payment Info: $U.S. Money order, certified check, cashier’s check. BKAssets may also accept “Bill Pay” from Wells Fargo, Bank of America, Citibank, Chase, a local regional bank or Credit Union. If you would like to use “Bill Pay,” but do not bank at one of these establishments, please call BKAssets prior to sending payment.

A closing cost fee of $200 (payable to seller) will apply. Full payment must be received within (7) days of winning bid. Any bidder who does not complete the sale within 7 days from the close of auction will be considered in default. Seller has the right to proceed with the next highest bidder.

Shipping Info: Shipping is free to all buyers in the United States. International bidders are welcome, please contact Bkassets for shipping costs to countries other than the United States prior to bidding. Shipping costs to locations outside of the US will be calculated at the close of auction. Please be advised that because this is a US Bankruptcy Court Ordered sale, and subject to approval, shipping can take an average of 3-6 weeks.

Liens: We are not aware of any liens