Though the Register adds that there’s a good chance the auction will not take place at all as Jim managed to find a technical loophole file bankruptcy for his company Global Marine Inc. a few weeks ago. The company just manages to hold the title to his house.
The 6,400-square foot, 6-bedroom house is currently listed for sale at $3,395,000, a far cry from the $4.56 million they paid in August 2007. The debt on the home is reportedly $4.7 million. You can see pictures of the home here. The Bellinos defaulted on the home loan twice last year, though they now claim they are still negotiating with the bank.
In other OC news, two weeks after a tentative ruling, an OC judge has officially ruled that Gretchen Rossi should pay her ex Jay Photoglou $40,799 in legal fees. This is in addition to the $22,000 she was also forced to pay him last May.
Gretchen had tried to sue Jay for defamation but is now just suing for assault, battery, stalking and other alleged offenses. Jay had asked for $85,000 in attorney fees, but the judge only awarded him half because a good portion of the lawsuit against him is still ongoing.
Jay’s attorney is however calling this new ruling a win. “We just keep getting victories, and we look to get more of them if she makes the decision to keep going with this case,” his attorney, Bryan J. Freedman told E! News. “We’re pleased,” he continued. “They tried to challenge the amount, they were unsuccessful, and the judge made the right ruling. And I have no doubt she’ll appeal it, and we look forward to her losing that also and paying more attorney’s fees for yet another poor decision.”
TELL US – WHAT ARE YOUR THOUGHTS ON THE AUCTION POSTPONEMENT AND THE JUDGE’S RULING?