Cars in bankruptcy dispute to be put up for auction


THE ORIGINAL OWNERS OF THOSE CARS WILL GET IS STILL VERY MUCH UP IN THE AIR. A FEDERAL JUDGE HAS ORDERED THAT ABOUT 200 VEHICLES BE SOLD AS PART OF THE BANKRUPTCY CASE INVOLVING DUSTY OLD CARS AND IT’S OWNER STEPHAN CONDODEMETRAKY. THIS IS THE LATEST CHAPTER IN THE ONGOING STRUGGLES OF THE TROUBLED CONSIGNMENT COMPANY THAT’S BEEN ACCUSED BY CUSTOMERS OF A VARIETY OF ISSUES THAT INCLUDE PAYING THEM LITTLE OR NO MONEY ONCE THE CARS HAVE BEEN SOLD.>>MY VIEW IS THE CASE IS VERY MUCH IN WIND DOWN MODE. THE TRUSTEE WILL LIQUIDATE THE INVENTORY. HE’S RELEASED A LOT OF THE CONSIGNMENT CARS. ANDY: THE ORIGINAL OWNERS OF THE CONSIGNED CARS HAVE THE OPTION OF GETTING THEM BACK, BUT THERE MAY BE A FEE INVOLVE OWNERS MAY WISH TO MOVE FORWARD WITH THE COURT SANCTIONED AUCTION AND GET WHAT MONEY THEY CAN.>>AND THE WHOLE EXPERIENCE THAT — >>A NIGHTMARE. ANDY: CARL ZECHA SAYS HE HAD 5 VEHICLES ON CONSIGNMENT THROUGH DUSTY OLD CARS. HE SAYS TWO WERE SOLD, BUT HE ONLY RECEIVED A FRACTION OF HIS MONEY. HE FOUND OUT TODAY THAT HE CAN GET HIS OTHER THREE CARS BACK FREE OF CHARGE.>>HAPPY TO GET THEM BACK, BUT STILL A LOSS NO MATTER HOW YOU LOOK AT IT. I DON’T KNOW. I DON’T KNOW WHAT TO SAY. ANDY: CONDODEMETRAKY WAS NOT AT TODAY’S HEARING, BUT HIS LAWYER SAYS HE NEVER INTENDED TO HARM ANYONE.>>I THINK HE’S HAPPY IT’S BEING RESOLVED. I THINK BOTH HE AND I THOUGHT IT COULD HAVE BEEN A BETTER RESOLUTION OUTSIDE OF THIS COURT AND WE TRIED HARD TO MAKE A BETTER RESOLUTION INSIDE THIS COURT AND COULD NOT GET IT DONE. ANDY: OFFICIALS SAY IT’S LIKELY THAT ALL OF THE CARS WILL BE LIQUIDATED IN ABOUT A MONTH.

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