Golden West Holdings Trust v. United States of America et al

Filing 52

ORDER granting 46 Motion Permitting Sale of Seized Property pursuant to the terms of the parties' stipulation 51 .. Signed by Judge Stephen M McNamee on 02/07/08.(DNH)

Golden West Holdings Trust v. United States of America et al

Doc. 52

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IN THE UNITED STATES DISTRICT COURT FOR THE DISTRICT OF ARIZONA

GOLDEN WEST HOLDINGS TRUST, ) ) ) Plaintiff, ) ) vs. ) UNITED STATES OF AMERICA and) ) INTERNAL REVENUE SERVICE, ) ) Defendants. )

No. CV 05-2237-PHX-SMM

ORDER

Defendant United States filed a motion to sell seized property (Dkt. 46). Plaintiffs opposed the motion, contending that the minimum bids proposed by the United States were insufficient. The Court granted the parties 15 days to brief the issue of whether any legal or statutory restrictions apply to the sale price of the property (Dkt. 49). The parties then filed a stipulation agreeing to reserve prices for the property (Dkt. 51). In accordance with the stipulation, and for good cause shown, IT IS HEREBY ORDERED granting Defendant United States of America's Motion for an Order Permitting Sale of Seized Property (Dkt. 46), pursuant to the following terms of the parties' stipulation (Dkt. 51): (1) The IRS may proceed to sell at public auction, after the proper notice and advertising according to law and regulation, the vehicles identified in Appendix A, attached. (2) Any vehicle that does not sell for at least the reserve price set forth in Appendix A shall be stored by the IRS until further Order or the written agreement of the parties to modify the reserve price.

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(3)

The IRS may apply the sale proceeds to the costs of sale and storage of all property seized from the plaintiffs, and then the net proceeds shall be deposited with Donald Powell of Arizona, the bankruptcy counsel of William Wadman, to be held in a blocked account pending further order of the Bankruptcy Court.

DATED this 7th day of February, 2008.

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1 APPENDIX A 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 -31964 Buick Riviera 1970 Lincoln Mark III 1979 Cadillac Coupe DeVille 1978 Cadillac Seville 1986 Rolls Royce Silver Spur 1960 Ford Thunderbird 1967 Mercury Cougar XR7 1981 Chevy El Camino SS 1977 Lincoln Continental Mark V 1964 Chevy Corvair Convertible 1965 Ford Thunderbird 1969 Ford Mustang Gr. Coupe 1985 Mercedes 380 SL 1967 Ford Thunderbird 1962 Ford Thunderbird Convert. 1966 Oldsmobile Toronado 1966 Chevy Corvair Coupe 1958 Lincoln Continental Mk III $12,160 8,760 4,080 4,920 20,160 12,800 12,640 4,320 6,440 5,520 9,200 12,080 10,360 6,720 24,880 10,240 3,200 6,600 Total $175,080 7K1107646 0Y89A806872 6D47599283110 6S69B8Q480202 SCAZN42A2GCX14265 0Y71Y174284 7F93C615985 1GCCW80J9BR451235 7Y89A804303 40967W241745 5Y87Z129832 9R01H157215 WDBBA45C0FA021495 7Y82Q145954 2Y85Z142700 396876M532940 105376L105353 H8YE414732 The vehicles under seizure are as follows: Reserve Price Year-Make-Model VIN