RECEIVERSHIPS: National Note of Utah, LC
WAYNE KLEIN, RECEIVER FOR
National Note of Utah, LC
10 Exchange Place, 502
Salt Lake City, UT 84111
This site contains updates and filings related to the National Note of Utah Receivership. Updates are posted chronologically with the relevant links. This information is summarized quarterly by the Receiver in a status update to the court. The latest quarterly report can be found here.
Current (2016) Events
February 11, 2016: ABI Default Granted. The Court entered an order today granting a default judgment against Michael Walden. The judgment declares the assignment of beneficial interest granted to Walden void. Out of the 349 ABIs in existence when the Receiver was appointed, only six remain that have not been released or declared invalid. A copy of the Court’s order can be found here.
February 10, 2016: Motion to Sell Toquerville Property. The Receiver filed a motion seeking approval to sell a 5-acre parcel of property in Toquerville, Utah for $148,200. This represents 95% of the appraised value. Notice of the proposed sale will be published in the newspaper. Higher bids are encouraged. A copy of the motion can be found here.
February 9, 2016: Property Sale Approved. The Court signed an order today approving the sale of five residential building lots in Toquerville, Utah. A copy of the order can be found here.
February 4, 2016: Judgment Entered. The Court entered a judgment against Secure American Gold Exchange, LLC (SAGE) in the amount of $112,000. The judgment was entered after SAGE agreed to entry of the judgment. The Receiver will seek to recover funds from the assets of SAGE. A copy of the judgment can be found here.
January 26, 2016: Judgment Entered Against Slaughter. The Court entered judgment for the Receiver today against Carol Slaughter in the amount of $104,254.33, which includes $18,800.05 in prejudgment interest. A copy of the order can be found here.
January 25, 2016: Status Report Filed. The status report covering the period of October to December 2015 was filed today. A copy of the report can be found here.
January 15, 2016: ABI Judgment. The Court today entered a default judgment against Michael Bryant, declaring the assignment of beneficial interest recorded for him on the Expressway property to be void. A copy of the judgment can be found here.
January 15, 2016: Property Sale Approved. The Court issued an order approving the sale of two residential building lots in Toquerville, Utah. A copy of the order can be found here.
January 8, 2016: Notice of Sale Results: Ogden. The Receiver filed a notice describing the results of the sale of the Ogden office building. After paying eight years of property taxes and closing costs, the 49.2% share of the building owned by the Receivership netted $241,836.67 to the Receivership Estate. A copy of the notice can be found here.
January 5, 2016: Publication of Notice of Sale of Almond Heights Lots. The Court today approved the publication of notice of the planned sale of 5 lots in the Almond Heights area of Toquerville, Utah. The Court also set a hearing on the Receiver’s motion to sell the property for February 8, 2016 at 1:30 p.m. A copy of the order can be found here.