SHERIFF"S AUCTION COMANCHE 400

by **Kevin** » Thu Jun 04, 2009 4:06 pm

Comanchee 400 N8491P Serial 26-70. SHERIFF'S AUCTION WILL FINALLY COMMENCE On Friday, February 5th, 2010 @ 10:05 AM, Sedona, Arizona (SEZ). Starting Bid is $52,100, Pre-sale Preview $100, Pre-buy Inspection $300, Ferry Permit $100, Proxy Seervice $500. For more info: call Kevin Klein, Event Coordinator @ (928) 284-1005

by **jeffrey aryan** » Sat Jun 06, 2009 3:54 am

To All,

I called today about the 400. The guy Kevin Kline said he will send me more information in the mail.

He also said the plane is or was owned by a female physician and he is trying to help her get as much as he can for it.

There are 2 other liens on the aircraft about $78,000.00 that need to be paid.

I will post more information when it becomes available.

Jeff

by **MULEFLY** » Sat Jun 06, 2009 1:56 pm

Just did a quick search of the FAA database... it goes back to 1982... no incidents involving this airplane during that period... of course that does cover the first 20 or so years of its existence.

Jim

by **kflyer** » Sun Jun 07, 2009 4:48 am

by **jeffrey aryan** » Sun Jun 07, 2009 6:13 am

by **David Pyle** » Sun Jun 07, 2009 3:27 pm

by **jeffrey aryan** » Sun Jun 07, 2009 10:26 pm

by **David Pyle** » Wed Jun 10, 2009 2:54 pm

by **jeffrey aryan** » Thu Jun 11, 2009 6:01 am

by **IO720** » Wed Jun 24, 2009 5:18 pm

I live in Iowa City and am willing to help. If you need me to get the log books for you, I'll be happy to fly over to get them. I can ship them to whomever the right person would be to complete the sale.

Let me know.

Rick Mascari
Comanche 400
N64400

by **jeffrey aryan** » Thu Jul 09, 2009 3:17 am

To All,

FYI,

I just talked to a JoAnn at the Yavapai County Sheriff's Dept. Civil Div. She said the auction for the 400 Comanche is still on and there are two (2) liens on the plane that have to be settled. One is thru Wells Fargo bank for approximately $73,000 and the other is a mechanics lien of $22,000.

They have no log books for the plane except for the propeller.

This doesn't sound like a good deal in todays market. FWIW.

Jeff Aryan

by **Kristin Winter** » Thu Jul 09, 2009 5:34 pm

Wells Fargo is going to take it in the shorts.

by **David Pyle** » Fri Jul 10, 2009 3:12 am

Kristin,

I'm not clear what "take it in the shorts" means. In any case I'm a Wells Fargo stakeholder and I hope they get their money.

Kevin Klein gave me an update today. The bank debt is correct and the mechanic will take $10K in settlement. The engine and prop logs are in hand. The owner is playing hard ball with the airframe logs, but reason may prevail. He is in Sedona and we believe the logs are too. The auction is as scheduled but the missing logs will limit interest.

The good news is that market priced 250's are selling. Two this week.

by **Kristin Winter** » Fri Jul 10, 2009 5:30 am

Sounds like the mechanic is taking it in the shorts. Pity, as his lien should have priority. My guess is that if he filed his lien with the FAA he would get every nickel. I hate to see the little guy take it hard just so the bank can have more money for its executives and shareholders.

by **David Pyle** » Fri Jul 10, 2009 2:05 pm

Still puzzled by "shorts".

The bank has a legal claim. They loaned the owner the money to buy (or rehab) the airplane. The mechanic should be paid for his time and out of pocket expense. He apparently values that at $10,000.

I assume your opinion about this indebtedness is personal, not legal. I further assume that as a lawyer you do not represent any banks.

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