A circuit court judge has rescheduled the foreclosure auction of an oceanfront house in Palm Beach for the fourth time.
An online foreclosure auction of the house at 101 Casa Bendita in Palm Beach, owned by real estate developer Robert V. Matthews, is now scheduled to start at 10 a.m. on Aug. 21.
An auction of the house on July 5 was halted after it began because Matthews filed for Chapter 7 bankruptcy on the same day.
But after Matthews failed to pay the $335 filing fee, a bankruptcy judge dismissed his Chapter 7 petition.
Judge Eli Berger of the 15th Judicial Circuit of Florida reset the date of the foreclosure auction for Aug. 21 in response to a motion by lender DB Private Wealth Mortgage LTD.
The foreclosure auction, originally scheduled for April, was delayed until May and again until July because attorneys for the lender said they were nearing an agreement to resolve mortgage debt secured by Matthews’ house.
DB Private Wealth, an affiliate of Deutsche Bank USA, claims Matthews defaulted on a mortgage loan with an unpaid balance of $26.25 million.
The office of Palm Beach County’s property appraiser estimated that Matthews’ house has a market value of approximately $20.9 million.
Matthews and his wife, Mia, built the custom house in 2006. It has 15,580 square feet of living space and about 185 feet of frontage on the ocean.
Attorney Robert C. Furr, who had represented creditors in Matthews’ dismissed bankruptcy case, initiated a hearing in U.S. Bankruptcy Court on Aug. 1 so the court can consider whether to reinstate Matthews’ Chapter 7 bankruptcy case.
Furr told the Palm Beach Daily News that he will make a motion to reinstate Matthews’ bankruptcy case because it would be in the best interests of his creditors. [Palm Beach Daily News] – Mike Seemuth