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Nifong's Guitar

By K.C. Johnson

Tamara Gibbs is reporting that Mike Nifong has filed an appeal against the court order denying his request to get out of the lacrosse players' lawsuit by pleading bankruptcy.The bankruptcy judge's order, meanwhile, contains the following only-in-Durham item:3. The Debtor [Nifong] owns, and has claimed as exempt, a Paul Reid Smith guitar, a Fender Deluxe guitar, and a Martin guitar (?the Guitars?).4. According to two independent appraisals of the Guitars, the higher value of the Guitars is $3,389.00. The Trustee is of the opinion that the value of the Guitars is approximately $3,500.00.5. The Debtor has agreed to pay the Trustee the full appraised value of the Guitars, $3,389.00, in consideration for the interest of the estate, and a sale of the estate?s interest in the Guitars to the Debtor is more economically feasible than an attempt to market and sell the Guitars to a third party.continue to full post

Full post as published by Durham-in-Wonderland on June 05, 2008 (boomark / email).