Form 1 - Individual Estate Property Record And Report Asset Cases

FORM 1
INDIVIDUAL ESTATE PROPERTY RECORD AND REPORT
ASSET CASES
Case No.:
Case Name:
For Period Ending:
96-75484
Sam Martin d/b/a Martin Cards
6/30/97 (2nd reporting period for this case)
       
       
       
Trustee Name:
Date Filed (f) or Converted(c):
ァ341(a) Meeting Date:
Claims Bar Date:
Jenny Ward
11/20/96(f)
12/20/96
3/20/97
1 2 3 4 5 6
Asset Description
(Scheduled and
Unscheduled (u) Property)
Petition/ Unscheduled Values Estimated Net Value
(Value Determined by Trustee,
Less Liens, Exemptions,
and Other Costs)
Property
Abandoned
OA=ァ554(a) abandon.
DA=ァ554(c) abandon.
Sale/Funds
Received by
the Estate
Asset Fully Administered (FA)/
Gross Value of Remaining Assets
Ref. #
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
       
       
Checking account
123 Ocean View - rental prop.
Accounts receivable Note 1
Household goods
Artwork
1994 Chevy van Note 1,2
Office equipment Note 1,2
Ocean View rent receivable
55 Lake Dr./1/2 int. homestead
1993 Fort truck
ABC preference action Note 3
Addit'l Ocean View rents (u)
Personal Injury Suite (u)
Fraudulent conv. to sister (u) Interest earned (u)
       
       
500
100,000
30,000
2,000
10,000
5,000
5,000
500
37,500
8,000
Unknown
Unknown
Unknown
20,000
Unknown
       
       
500
63,000
-0-
-0-
12,500
6,100
3,600
500
7,125
-0-
5,000
N/A
Unknown
20,000
N/A
       
       
       
       
       
DA
       
       
       
       
       
OA
       
       
       
       
       
       
       
500
90,000
5,000
       
1,000
8,000
       
500
50,000
       
       
1,000
       
       
310
       
       
FA
FA
4,000
FA
14,000
FA
FA
FA
FA
FA
2,000
FA
Unknown
20,000
Unknown
TOTALS (Excluding unknown values) Gross Value of Remaining Assets
                                        118,325
====================
   
        156,310
==============
   
40,000
===============================
(Total Dollar Amount in Column 6)
Note 1: $10,000 National Bank lien encumbers assets 3, 6, and 7.
Note 2: Assets #6 and #7 were sold together in bulk sale.
Note 3: Settlement negotiations are pending. Current value estimated at $2,000.

Major activities affecting case closing:
            Portion of artwork sold to debtor for $5,000 (payable $1,000 mo.,due 4/1/97 - 8/1/97);
                  Have sent demand letter for delinquent payments. Payment is forthcoming.
            Meeting with special counsel on 8/2/97 concerning PI suit/target trial date: 1/98.
     
Collect remaining accounts receivable.
Settle preference action and adversary concerning fraudulent conveyance
Public auction of remaining artwork set for 8/15/97
Initial Projected Date of Final Report (TFR): December 15, 1997 Current Projected Date of Final Report (TFR): June 30, 1998

Handbook for Chapter 7 Trustees
Effective 10/1/98


Page Last Updated on March 19, 1999.
United States Trustee Program/Department of Justice
usdoj-eoust/msd/vdp

Updated May 7, 2015

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