Jonathan Alan Veley's Legal Cases (2)

Foreclosure

Benchmark Bank v. Icarus Investments, Case Number 12 CV 387, Medina County Common Pleas Court

N/A

OUTCOME: Judgment for plaintiff for $1,654,311.42.

This 36-count foreclosure sought cognovit judgment and judicial sale of 18 separate loans, with an aggregate balance of $1,654,311.42, secured by 18 parcels located in Medina, Summit, Wayne, Portage an ... d Guernsey Counties. The cases could have been filed separately, however, by combining these actions into one Plaintiff saved more than $10,000.00. Initial filing within ten days of being instructed to proceed resulted in cognovit judgment, immediately followed by the appointment of a receiver, garnishment, and an execution on all the personal property at the borrowers' residence.

Debt collection

Mary K. Whitmer, Trustee, v. Pine Knoll Properties, case number 13-05088, Bankruptcy Court, ND Ohio

N/A

OUTCOME: Payment in full, plus payment of fees and share of sale proceeds

The case involved one parcel out of the 18 at issue in Benchmark Bank v. Icarus Investments. Relief from stay was not granted was a 67-acre parcel of land in Guernsey County. The trustee was prepared ... to accept an offer of $15,000.00 per acre, or $1,005,000.00; however, after pressure from our office, the Trustee agreed to an agreed order by which the trustee would accept bids, which we then solicited. As a result of these efforts, the premises sold for $26,000.00 per acre. The bank received payment in full on its loan, all of its accrued interest, half of its attorney fees for the entire relationship (including those in the state court litigation) and excess proceeds of more than $80,000.00 to apply to other deficiencies in the relationship.

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