More than $3.1 million will flow into the coffers of bankrupt US Fidelis, if two recent motions to sell vacation homes owned by the Wentzville company's founders win court approval.
US Fidelis was the nation's No. 1 seller of extended auto-service contracts and one of St. Charles County's biggest employers. The company imploded last year amidst allegations of fraudulent business practices.
After US Fidelis filed for bankruptcy on March 1, an independent management team sued the company's owners -- Darain and Cory Atkinson -- and accused them of plundering the firm. A settlement required the Atkinsons to surrender virtually their entire fortunes, including at least four luxury properties.
A prospective buyer identified as Ray Akrawi has offered $2.45 million to buy one of those -- Cory Atkinson's vacation house in Truckee, Calif., near Lake Tahoe. The five-bedroom, 4,695-square-foot retreat was built in 2008, according to an online real estate listing.
Anyone interested in paying more than Akrawi has until Dec. 20 to up the ante to at least $2.5 million. If the house sells for at least that much, the US Fidelis bankruptcy estate will pay a break-up fee of $36,750 to Akrawi, of Santa Rosa, Calif.
Also, Darain Atkinson's Lake of the Ozarks house could fetch $675,000, if the bankruptcy court approves a proposed sale to Marilyn and LuAnn Moen. The Porto Cima, Mo. house was built in 2006 and boasts five bedrooms, a dock and 102 feet of water frontage, according to an online real estate listing.