Famecrawler
Teresa Giudice’s Bankruptcy Estate Sale May Be Private
Teresa Giudice’s lawyers say that they are hoping to conduct her estate sale privately, instead of at public auction, as was previously reported. “We concluded that we do not believe that a public sale would be in the interest of anyone,” I’m pretty sure Kim G isn’t gonna like that one bit, since she was planning to show up and buy as much as possible and then auction it off on eBay.
The move to bring the auction private instead of public was said to be less about avoiding public embarrassment and more about ‘common sense’. James A. Kridel, of The Kridel Law Group continued “We concluded that we didn’t think that the public sale would draw any additional money,” he explained further. “So it would be an exercise in futility.” He then goes on to say that with a private sale, the Giudice’s belongings could be sold off as a package deal, rather than one by one.
“Typically there would be an agreed upon price and it would be sold to an individual or individuals at a set price which we believe would be more than we could get at a public sale. And then it has to go before the court and usually it would have to be approved by the court.”
Well, with over $11 million in debt, I think that ‘getting more’ is pretty much the goal at this point! And since they’re trying to move the sale private, the current sale date of October 3rd is now up in the air, and the approval to move the sale private still has to be approved by a judge.
What do you think? Do you think Teresa is trying to avoid public embarrassment, and possibly the humiliation of Kim G buying up all her personal belongings, or is this a sound business move to make more money out of the sale?
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6 Comments
gretch commented on Sep 05 10 at 9:41 amOkay, the Judge set the auction date at Oct. 23rd. It is not up in the air. the Giudices’ attorney files a motion with the court and then the Judge will rule on that. The auction is still set for Oct. 23rd. However it is possible that the judge may allow a private sale. Everything is now the property of the trustee. The estate is under the control of the trustee. So, if the trustee agrees and the Judge agrees there could be a private sale. There is no doubt in my mind the Giudices are trying to pull some more shady stuff. it’s what they do. Since they lied to the court about their assets I am thinking the court isn’t going to be accommodating to them.
Ann commented on Sep 07 10 at 4:42 pmI would like to know what might have been hiding in the bags they took to Italy which Joe insisted on personally taking off the cruise ship. It seemed to be Teresa’s idea to get everyone to go to Italy which conveniently took place before the potential bankruptcy sale. The pandemonium of the massive group could have been a great cover for moving portable assets. AND…what little packages did they leave stashed behind with Italian family members or in storage lockers??? How about lie detector tests or “interpreting microexpressions, through the Facial Action Coding System, and body language” as part of the bankruptcy process? AND, with all the proceedings coming down, the show seemed to continue showing Teresa’s wild spending in both stores and on parties (not to mention vacation), if in fact they were continuing with reckless spending, wasn’t that conscious choice to continue to steal goods and services for which they knew they weren’t going to be able to pay? Did they not have a responsibility to conserve their cash availability to actually ATTEMPT to pay some of the already existing debt? Isn’t the continued reckless spending considered theft??? Maybe fraud??? Furthermore, how are these behaviors any less moral, ethical, or legal than what they claim Danielle did? Why would the Manzo’s continue embracing Teresa and Joe as part of the respectable family fold?
Finally, to respond to the issue of the article, I think that a public sale would bring in more money than a private sale. Why not have the bankruptcy estate run the Ebay auction? Certainly the celebrity of the entire event would result in higher bids than the normal value such personal items. AND…it would decrease the possibility of the Giudice’s working out a deal with a private party to buy all their stuff to ultimately quietly have certain cherished items returned them. They have had no problem flauting their spending publicly, so let them now have their bankruptcy be flaunted publicly as a testimony on where their sort of lifestyle can end up. Let the event be filmed as a TV Special and the proceeds from the show be added in back as part of bankruptcy assets. “Teresa’s Toppling Treasure Trove!” Bravo could slip in footage showing Teresa buying items, and their subsequent sale along with the purchase price against the bid sale price. Then they would have to pick out one classic shot of Teresa screaming and repeatedly plaster it in like it was her response to the sales. HEY…the table flipping shot like Jesus and the temple money changers! But each time they show it have a different Teresa quote voice over. IT WOULD BE HOT!!! People would be talking about it for months!
Steven Welch commented on Sep 08 10 at 12:56 pmWhat a disaster these folks are. Danielle originally, but she seems more sane now than the rest of them.
Steven Welch commented on Sep 08 10 at 1:09 pmTeresa and Joe are simply con-artists that haven’t earned what is in their house or what they’re driving. As a result, universal justice takes back which is not earned! The excuses these people have are outrageous!!
Caroline Manzo defends Teresa and Joe (Joe’s drunk driving), the excessive spending, the girl that pulled Danielle’s hair, the nonsense gossip of Danielle and then has an excuse for why her son got booted out of Law School (ADD). Then all she does is name call Danielle that she is a clown or garbage. Real mature Caroline!! She also keeps mentioning winning while she looks like a complete fool!! Advice to Caroline – please shut up, you’re making a fool of yourself!! Your not wise at all and have made a COMPLETE fool of yourself and your family!!
Jacqueline is about the only normal person on the show with real values. I’m starting to think Daneille is getting there too. But Caroline and Teresa are about the biggest disasters on Real Housewives from any city.
mildred monroe commented on Oct 01 10 at 11:23 pmDanielle is no longer with the show and i am very happy about that,because she is better than those people.they are a bunch of mean
lying crooks,and caroline manzo is the worst
of the bunch!Ignorant teresa and drunkard
jacqueline laurita was just following the
leader to keep in carolines good graces.I wish
the best for Danielle.
mildred monroe commented on Oct 01 10 at 11:33 pmI,ve never sailed,somebody please tell me is
there no security checks when you board the ship.Gretch commented that Joe would,nt let
anyone take his loads of baggage.Hmm wonder
if there were valuables that they didn’t
declare?????Hmm
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