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Mar 27, 2008 08:50 PM
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Detroit, 11:08 PM
Tue Feb 9
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Because Unique Performance declared bankruptcy and had debts outstanding, what was left in the UP warehouse was auctioned off this weekend. The hope was that, after the $900K went to the government there would be some left over for the 140 individuals with claims (including 40 employees owed back-pay). According to our source and records on the auction company's website, the auction netted approximately $1.037 million, leaving $137K after the IRS took their cut, which means $978 per person... before lawyers.
We don't have a final tally on how much the lawyers get, or if there are other ways to recoup the money (maybe not). Either way, it doesn't look like those on the wrong end of this are going to get justice from this particular auction. Though, as one former employee told us "I guess we have the memories... and the hope to see [owner Doug] Hasty behind bars!" More when we get additional information.
Send an email to Matt Hardigree, the author of this post, at matt@jalopnik.com.
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