Court approves auctions of East Coast Brokers and Packers assets

MULBERRY, Fla., July 24, 2013 /PRNewswire/ -- A U.S. Bankruptcy Court has approved the upcoming auctions of thousands of acres of farmland in Florida and Virginia, beginning Thursday, Aug. 15. Assets to be sold will include labor camps, packing facilities, homes, farm equipment, trucks and other assets owned by East Coast Brokers and Packers, and the Madonia family and certain of their affiliates.  

The dates had been proposed to the United States Bankruptcy Court, Middle District of Florida, Tampa Division, by Chapter 11 Trustee Gerard A. McHale Jr. On June 20, 2013, the Bankruptcy Court appointed McHale as Chapter 11 Trustee for the Madonias and their affiliated companies.

"Logistics dictated that some dates be changed from those previously planned in order to facilitate bidding on various types and locations of properties," said Ken Nofziger, president of Murray Wise Associates, LLC, which will conduct the auctions in cooperation with Crosby & Associates and Woltz & Associates. "The biggest change is that the major farmland assets in Virginia and Florida will be sold on separate dates. Given the large number of assets of widely varying types, we felt it would be wise to streamline and simplify the process wherever possible. The revised dates are being communicated to prospective bidders, and the current dates will always be available at www.murraywiseassociates.com," Nofziger said.

Auctions are planned for the following dates, subject to court approval:

• Thursday, Aug. 15, 10 a.m. -- Approximately 7,377 acres of Florida farm and development land in Martin, Hillsborough, Polk and Manatee counties; two packing houses; a former Bible college, and several labor camps.
• Friday, Aug. 16, 3 p.m.  -- The elegant Red Rose Hotel in Plant City, Fla., along Interstate 4, along with a home in Lakeland, home sites on Walden Lake in Plant City, and other Florida assets.
• Monday, Aug. 19, 3 p.m. -- Cape Charles, Va.-area properties, including two luxury homes in Bay Creek, a colonial style house just south of Painter, and a home just west of Oyster. Also set for auction is a home surrounded by water on Marsh Island just outside Chincoteague.
• Tuesday, Aug. 20, 1 p.m. -- 31 properties (primarily farmland) totaling approximately 3,228 acres; produce packing houses; labor camps, and several homes in Virginia, primarily in Accomack and Northampton counties. 
• Wednesday, Aug. 28, 9 a.m. - Live and online auction of agricultural equipment, Mulberry, Fla.
• Wednesday, Sept. 4, 9 a.m. - Live and online auction of agricultural equipment, Virginia.

Murray Wise Associates LLC, headquartered in Champaign, Ill., with additional offices in Florida and Iowa, is a leading national agricultural real estate marketing and financial advisory firm.  

Crosby and Associates, Inc., based in Winter Haven, Fla., with offices in Tavares, Fla., and Hawkinsville, Ga., is a noted provider of agriculture real estate brokerage and management services.

Woltz & Associates, based in Roanoke, Va., is a leading auctioneer of land, homes and other assets throughout the United States, with a concentration on the Middle Atlantic region.

For more information:

Carl Carter, 205-823-3273

SOURCE Murray Wise Associates