Scrushy Lake Martin Home Auction
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Uploader Comments (LakeMartinVoice)
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How did it go from 4 million to 7.4 million, with nothing in between?
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sorry for the slow response, but the way a lawyer explained it to me was that the shareholders have a judgment vs Scrushy for like $2 billion. They got the home appraised, and $7.4 was the appraised amount. So they "bought" it by giving him credit on the judgment. They didn't want him to appeal saying the credit was too low, it was full appraised amount. They were the only bidder. They figure they won't collect $2B anyway so might as well limit appeals.
LakeMartinVoice 1 year ago