Judge rules NGE to be liquidated

National Gold Exchange will be liquidated after a March 3 decision by U.S. Bankruptcy Court Judge Michael Williamson to convert the firm’s Chapter 11 filing to Chapter 7 reports the Tampa, Fla., Tribune.

Author:
NMN
Publish date:
Mar 15, 2010

National Gold Exchange will be liquidated after a March 3 decision by U.S. Bankruptcy Court Judge Michael Williamson to convert the firm’s Chapter 11 filing to Chapter 7 reports the Tampa, Fla., Tribune.

The firm filed for bankruptcy July 24, 2009, after its primary lender, Sovereign Bank of Boston, seized the assets securing its more than $30 million in loans to the firm.

Mark Yaffee is trying to sell his 29,000-square-foot Florida home and is operating a new business called Phoenix Gold with loans from his father and others.

More Resources:

• Subscribe to our Coin Price Guide, buy Coin Books & Coin Folders and join the NumisMaster VIP Program

• 2010 U.S. Coin Digest, The Complete Guide to Current Market Values, 8th ed.

• State Quarters Deluxe Folder By Warmans

• Standard Guide to Small-Size U.S. Paper Money, 1928 to Date

• Strike It Rich with Pocket Change, 2nd Edition

Related Articles

U.S. District Court Judge Frank C. Darrell Jr. has turned down atheist Michael Newdow

Jul 21, 2008

In round one of the Langbord family vs. Uncle Sam case over the rights associated with 10 1933 double eagles found in what the court termed a “family” safe deposit box, the United States of America came up the decided loser.

Aug 7, 2009

National Gold Exchange of Tampa, Fla., a driving force in the rare coin market for a generation, filed for voluntary protection from its creditors under Chapter 11 of the Federal Bankruptcy Code on July 24.

Jul 30, 2009

California here they come. That’s the conclusion of a June 10 decision by U.S. District Court senior Judge Charles Sifton in the case of Universal Grading Service v. eBay, Inc.

Jul 28, 2009

The national motto “In God We Trust” has been made safe on U.S. coinage and paper money by yet another court decision.

Mar 16, 2011

ebay170

The numismatic market was roiled when eBay, the online auction firm, sent its sellers an April 17 email notification that as of May 30 only coins that meet certain new standards will be allowed to be listed or relisted with a numerical grade in their title and in the description.

Apr 18, 2012

Retired ophthalmologist Gordon Leitch ran into a snag during his campaign for governor of Oregon when the state would not accept his $20 gold pieces to pay his candidate filing fee.

Jul 21, 2008

A 70-year-old former golf professional who invested some $700,000 in rare coins with a coin dealer, only to lose more than $400,000 of the investment, won a small but significant victory in the U.S. District Court for the southern district of Florida.

Jul 7, 2009

Justice proved sympathetic to the blind and visually impaired per a recent U.S. District Court ruling.

Jul 21, 2008

CLOSE

CLOSE

CLOSE

CLOSE