Sunday, November 18, 2012

Peregrine Auction: Wine, Cars, Meat Slicers! Everything Must Go!

Per the Wall Street Journal Bankruptcy Beat:

November 15, 2012, 3:28 PM

Rick Chase/Associated Press
This Monday, April 4, 2011, file photo shows Russell Wasendorf Sr. in Cedar Rapids, Iowa.
If you ever wanted to paddle a canoe once owned by disgraced Peregrine Financial Group Inc. Chief Executive Russell Wasendorf Sr., your chance is coming.
On Dec. 5, Mr. Wasendorf’s 1957 Ford Thunderbird, snowmobiles, bedroom sets, lawn mowers and nearly $100,000 worth of wine will come up for bidding in an auction of about 1,100 items.  Proceeds are expected to help repay customers and creditors of his failed brokerage.
“Everything will go,” said Michael Eidelman, the court-appointed receiver, who has spent about four months tracking down Wasendorf’s personal possessions, tallying them and preparing them for sale. “Whatever we don’t sell, we’ll donate, and if we can’t donate it, we’ll find a way to dispose of it.”
Items expected to draw interest range from a collection of sports memorabilia that includes a Miami Dolphins football helmet signed by former quarterback Dan Marino to a small fleet of all-terrain vehicles and professional-grade camera equipment.

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