Estate Home of Boy Band Music Mogul Louis Pearlman Slated for Auction Block in Bankruptcy Selloff, According to Fisher Auction Company
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Windermere FL (PRWEB) February 8, 2008 -- Music mogul and former founder and promoter of boy bands, Backstreet Boys, `N Sync and O-Town, Louis Pearlman's estate home goes to auction on Saturday, March 8th, by order of the U.S. Bankruptcy Court, according to Lamar Fisher, President / CEO of Fisher Auction Company.
U.S. Bankruptcy Trustee, Soneet Kapila engaged Fisher Auction Company to conduct the sale of Pearlman's 16,000± square foot home, which was originally contracted through bankruptcy court for $7.1 million in 2007 to a local doctor; however, the sale fell through.
"Auctions are a beneficial way to sell a property, providing a platform for national and international marketing in addition to local market saturation," Fisher said, "This auction will benefit the potential buyer and the Bankruptcy Court."
Lou Pearlman is presently being held without bail in an Orange County, Florida, jail awaiting trial on federal bank fraud charges relating to an elaborate scheme that defrauded major lenders out of hundreds of millions of dollars.
"The court hopes to recoup some of the money owed through the sale of Pearlman's multi-million dollar Florida home," said Fisher. "We are pleased to bring our experience with bankruptcy and bank-owned property auctions throughout the country to this case."
He added, "With current housing market conditions, the auction process provides for quick disposition."
For additional auction information or photographs visit www.fisherauction.com
Published by ASMarketingCenter.com a division of http://www.auctionservices.com and the http://www.nationalauctionlist.com.
Contact Information:
Lamar Fisher, President / CEO
Fisher Auction Co., Inc.
954.942.0917 x 13
http://www.fisherauction.com
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This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.
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