St. Petersburg Times: "Austria to Tampa gold dealer Mark Yaffe: Give coins back"
Goldbully
Posts: 17,991 ✭✭✭✭✭
By James Thorner, Times Staff Writer
Posted: Nov 10, 2009 02:56 PM
As if Tampa gold and coin dealer Mark Yaffe didn't have enough problems, he's now being pursued by the government of Austria.
From September 2008 to April 2009, the Austrian Mint delivered 1,500 gold coins worth about $650,000 to Yaffe's company, National Gold Exchange. Yaffe was supposed to sell them on consignment. But his July bankruptcy filing put a halt to that. Austria wants its Vienna Philharmonic gold coins back.
Yaffe's top creditor is Sovereign Bank, a Boston lender owed $36 million. Yaffe is seeking court approval of a reorganization plan that aims to pay off creditors through 2016.
The bank isn't buying it. Among its criticisms of the plan is Yaffe's contention that he requires $74,000 a month to maintain the 30,000-square-foot mansion he's trying to sell for $25 million in Tampa's Avila neighbhorhood.
Austria has hired an American lawyer to represent it in bankruptcy court.
Link
Posted: Nov 10, 2009 02:56 PM
As if Tampa gold and coin dealer Mark Yaffe didn't have enough problems, he's now being pursued by the government of Austria.
From September 2008 to April 2009, the Austrian Mint delivered 1,500 gold coins worth about $650,000 to Yaffe's company, National Gold Exchange. Yaffe was supposed to sell them on consignment. But his July bankruptcy filing put a halt to that. Austria wants its Vienna Philharmonic gold coins back.
Yaffe's top creditor is Sovereign Bank, a Boston lender owed $36 million. Yaffe is seeking court approval of a reorganization plan that aims to pay off creditors through 2016.
The bank isn't buying it. Among its criticisms of the plan is Yaffe's contention that he requires $74,000 a month to maintain the 30,000-square-foot mansion he's trying to sell for $25 million in Tampa's Avila neighbhorhood.
Austria has hired an American lawyer to represent it in bankruptcy court.
Link
0
Comments
<< <i>That's quite a house! >>
You could park a jet there, Jeremy!!
Hong kong/Long Beach JUNE Table #838
MACAU
emgworldwide@gmail.com
Cell: 512.808.3197
EMERGING MARKET GROUP
PCGS, NGC, CCE & NCS, CGC, PSA, Auth. Dealer
<< <i>
<< <i>That's quite a house! >>
You could park a jet there, Jeremy!!
I was thinking paint a giant H on that grass, and put it in a circle
<< <i>That's quite a house! >>
That's a monstrosity of a joke.
men always seem to have
the biggest houses?
Camelot
<< <i>Very strange seeing people at the "national gold exchange" booth at A.N.A >>
The people at the booth may be totally unrelated to the company named on the sign above. It tends to happen the most at shows in California.
Authorized dealer for PCGS, PCGS Currency, NGC, NCS, PMG, CAC. Member of the PNG, ANA. Member dealer of CoinPlex and CCE/FACTS as "CH5"
“In matters of style, swim with the current; in matters of principle, stand like a rock." - Thomas Jefferson
My digital cameo album 1950-64 Cameos - take a look!
<< <i>Why do the biggest con
men always seem to have
the biggest houses? >>
Because under Florida law your primary residence is protected in a bankruptcy no matter how valuable it is. If Yaffe weren't selling it, the creditors couldn't touch it.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>Why do the biggest con
men always seem to have
the biggest houses? >>
Of course that is only until they go to the big house.
``https://ebay.us/m/KxolR5