$7 million property sale under review in McKenzie bankruptcy case

$7 million property sale under review in McKenzie bankruptcy case

May 25th, 2010 by Pam Sohn in Local - Breaking News

U.S. District Bankruptcy Judge Shelley Rucker took under advisement a decision in the Toby McKenzie bankruptcy case today.

Famed Cleveland millionaire Toby McKenzie is seeking to void the trustee's sale of his stake in a $7 million property off exit 20 along Interstate 75.

The trustee sold the property to Mr. McKenzie's former partner, Nelson Bowers II, for $2,500, meaning the property could not be used to help settle Mr. McKenzie's debts after illness forced him into bankruptcy, according to his attorney Richard Banks.

Judge Rucker will decide whether to allow the sale to stand or to void it.

For complete details, see tomorrow's Times Free Press.