Receiver to Jeremy Marcus – Hand Me Your BMW

In what has now become a bad Hulu series, another update to the saga of Jeremy Marcus and his luxury BMW i8 which he politely refuses to turn over to the court appointed Receiver.

Yesterday I posted an update where debt relief entrepreneur Marcus said he could not turn over his super expensive BMW because he had to use it to take his child to doctor appointments, take car of basic household needs, and had to find a job.

It appears the Receiver enjoy the position put forward by Jeremy Marcus that he had to keep the BMW because he could not afford a beater. But the Receiver also said, “Additionally, Marcus without any evidence argues hardship if he is forced to turnover the
BMW. However, Marcus continues to insist on living a life of luxury. The Receiver has learned that Marcus and his wife on December 2, 2017 hosted a lavish wedding at the luxurious W Hotel on the beach in Fort Lauderdale, Fl. Based upon the Receiver’s calculations, the cost of the wedding exceeded $50,000. Marcus cannot now argue that “[he] is not remotely concerned with having a ‘luxury’ vehicle” when recent events prove he maintains a luxurious standard of living.”

In yesterdays story Marcus said he should not be required to hand over his BMW i8 because, “The vehicle in question – a 2015 BMW – is not titled in the name of any of the Receivership entities.” – Source

And while that might be absolutely true the Receiver says, “The BMW, because it was purchased via a Receivership Defendant Halfpay International shareholder distribution to Marcus in the amount of $133,564.07 with the reference “Jeremy BMW,” constitutes “receivership property” subject to turnover.” “Moreover, because this asset is depreciating in value with every mile driven, turnover is required to preserve the asset’s value for the benefit of consumers. The Motion also demonstrates that turnover is required under the law of constructive trust and fraudulent transfer.” – Source

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Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
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