--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
> What interest in title would the state have to auction? None. There
>are debt and equity investors. The state has no interests. It is up to
>the debt and equity investors.
After freezing the assets, the state is likely to appoint a receiver
who will hold and maintain the properties in trust for the defrauded.
His powers will likely include the power to sell.
>From reading the press article, it isn't clear yet if there are equity
investors. The article said REI was selling promissory notes, which
standing alone gives no equity or security interest.
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