Narrative Opinion Summary
An order was issued by the Superior Court of New Jersey confirming the public auction conducted on October 25, 2005, for the personal property of Crown Financial Holdings, Inc. and Crown Financial Group, Inc. The application for this confirmation was submitted by Gary K. Norgaard, the Assignee for the Benefit of the Creditors. The court found sufficient cause to approve the auction, which generated gross sales proceeds of $159,706.00. The order is dated March 9, 2006, and is signed by Judge Thomas P. Olivieri.
Legal Issues Addressed
Confirmation of Public Auctionsubscribe to see similar legal issues
Application: The Superior Court of New Jersey confirmed the public auction of personal property belonging to Crown Financial Holdings, Inc. and Crown Financial Group, Inc. upon finding sufficient cause.
Reasoning: An order was issued by the Superior Court of New Jersey confirming the public auction conducted on October 25, 2005, for the personal property of Crown Financial Holdings, Inc. and Crown Financial Group, Inc.
Judicial Approval of Auction Proceedssubscribe to see similar legal issues
Application: The court approved the auction, which resulted in gross sales proceeds totaling $159,706.00, indicating that the proceeds were satisfactory under judicial review.
Reasoning: The court found sufficient cause to approve the auction, which generated gross sales proceeds of $159,706.00.
Role of Assignee for the Benefit of Creditorssubscribe to see similar legal issues
Application: Gary K. Norgaard, acting as the Assignee for the Benefit of the Creditors, submitted the application for the confirmation of the auction.
Reasoning: The application for this confirmation was submitted by Gary K. Norgaard, the Assignee for the Benefit of the Creditors.