Giudices' Bankruptcy Auction to be Postponed
This week Sunday, Teresa and Joe Giudice were supposed to have a public auction of their household furnishings at their 5 million Towaco mansion after filing for bankruptcy in New Jersey. However, the auction has been rescheduled for October 3, 2010.
Earlier this week, the couple appeared in Newark and met with U.S. Bankruptcy Judge Morris who said that he would postpone the auction in order to a lot for a review of the items that are to be sold. The judge said that the auction will not be canceled.
Last October, the Giudices filed for bankruptcy. In their bankruptcy petition, they listed a lemon million in various debts.
Initially, the couple had objected to the auction. They said that numerous items should not be available for sale including their children's toys, beds as well as antique accessories throughout the home. They also told sources that they feared the items would fetch far less money than it would cost to replace them.
Judge Morris agreed with the couple and removed the children's items from the auction list. The items that are currently on the list are expected to gain more than $51,000 according to an appraiser was appointed by the bankruptcy court trustee.
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