An auction of Cleveland, Tenn., businessman Steve A. “Toby” McKenzie’s office items drew more than $78,000 today as buyers bought furniture, plants and paintings from his former office on North Ocoee Street.
Mr. McKenzie filed for bankruptcy protection earlier this year after he was ordered to make good on lease payments defaulted on almost a year ago, one of several lawsuits he faced. Mr. McKenzie allegedly owes creditors more than $150 million.
He made his fortune in check cashing and is known for donating money with his then-wife Brenda to help complete the construction of McKenzie Arena on the University of Tennessee at Chattanooga campus.
Among the items auctioned were six of Mr. McKenzie’s vehicles. Only two were sold — a 2005 Toyota Scion and a 2006 Toyota Tacoma. The rest did not receive high enough bids, according to bankruptcy trustee Kenneth Still, who made the final decision on all sales.
Auctioneer Max Carroll of Carroll and Green tried repeatedly to get people to up their bids, but ended the bidding on several items with no sales.
“We knew what the payoff on the cars was, and they didn’t bring it up,” he said.
For complete details, see tomorrow’s Chattanooga Times Free Press.
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