Judgment in the Amount of $347,672.65!

Starting bid: $27,995.00

Item condition: New

Time left:

Auction ends: November 8, 2021 4:12 pm
Timezone: America/Phoenix

Starting bid: $27,995.00

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Description

Item Id: Caito01
Case Name: Caito, Matthew
Case Number: 15 01605
Trustee:
Starting Minimum Bid: $27,995

Description: Estate’s interest in a U.S. Federal District Court – District of Colorado Judgment dated January 6, 2016 awarded to Caito Foods Service against Lanes Consulting Firm LLC D/B/A Rocco’s Produce and Jacob Howes (individually and in his corporate capacity). The judgment is in the principal amount of $97,897.75.
Further, the Court found that because Plaintiff asserted causes of action for dissipation / misappropriation of trust assets and breach of fiduciary duty under the Perishable Agricultural Commodities Act (“PACA”), 7 U.S.C. §499 et seq., wherein Plaintiff is a qualified and perfected PACA trust beneficiary.

This Judgment is non-dischargeable in any of the Defendant’s subsequent bankruptcy proceedings pursuant to 11 U.S.C. §523(a).

Further, the Court found that Plaintiff has made a successful claim for contractual pre­-judgment interest, and therefore interest at the stated invoice rate of 1½% per month, calculated at $16,863.91 that shall be added to this Judgment.

Further, the Court awarded Plaintiff post-judgment interest at the parties’ contractual rate of 1 1/2% per month from the entry date of this Judgment until paid in full. On May 2, 2016 the Court further awarded Plaintiff’s legal fees and costs of $22,495.78.

On May 17, 2016, the U.S. Bankruptcy Court – District of Colorado (Case No 15-20066-EEB & Adv. #15-01469-EEB) entered a non-dischargeable judgment against the Debtor, Jacob Quinn Howes, in favor of the Plaintiff, Caito Foods Service, Inc. for the amount of $132,907.30.

As of Friday, July 30, 2021 the entire amount due under this judgment including all past payments made by Jacob Howes ($24,936) and accrued interest and legal fee is $347,672.65 (see link below under balance to be collected).

The Plaintiff (owner of the judgment) has provided information regarding real property owned by Howes located in Denver CO, tax schedule: 02282-09-014-000, showing the last know address of the Defendant to be at 3649 Tejon Street, Denver, CO.

Judgments See Links Below:

Court Doc 2016012306

Court Doc 2016062778

Court Doc 2016069910

Balance to be Collected See Link Below:

2021-07-30 Amount Due

Notes: A closing cost fee of $375 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.com policy regarding ‘Proxy Bidding’ (see ‘Bidding Guide’ on www.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 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.

In order to accept this agreement and collection support, the winning bidder must contact BKAssets directly once the original assignment is signed and notarized by the Trustee and the assignment is received by to the winning bidder. BKAssets will then provide the collection agency contact information to the winning bidder.**

Legal Info: By Order of the United States Bankruptcy Court, BKAssets sells this and any other property/judgment “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 judgment, collection of same, or any liens or encumbrances against the defendants. The buyer will be entirely responsible for this judgment/assignment after the sale including but not limited to: paying any fees/costs associated with this judgment, pursuit of the collection 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 $375 (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 included 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

Bidding Guide: Please review the bkassets.com bidding guide for terms of auction prior to placing a bid or making an offer..

Auction History

October 8, 2021 4:22 pmAuction started