On the eve of Clare Bronfman’s bail hearing, her lawyers have told the court they firmed up her financial collateral.
Bronfman was required to secure a $100 million bond, signed by her mother and brother-in-law, Basit Igtet, with $50 million in assets. Bronfman’s lawyers have been working with the prosecution to finalize documents necessary to secure government liens.
Some $25 million is secured by a letter from Goldman Sachs – on file with the court – as trustee of Clare’s trust, confirming that if her bail is revoked by the Court, the trustee would file instructions from the trust advisors to liquidate trust assets and transfer $25 million to the Clerk of the Eastern District of New York.
The remaining $25 million has been secured by real estate and a business.
The division is $8.1 million in equity in real estate owned Sara Bronfman-Igtet, $4.5 million in equity in real estate owned by Clare Bronfman, and a UCC-secured interest of $12,350,000 in Clare Bronfman’s company, ACK Wakaya Holdings LLC, which holds the business interests in the resort she owns in Fiji.
It is not known if Clare and Sara Bronfman-Igtet told the court about their millions in real estate holdings in Los Angeles County – which are currently up for sale.
I know about these since I recovered these assets for the Bronfman sisters when I got them controlling interest in Precision LLC in 2008. They may not have told the court about their Los Angeles real estate holdings since they may need to liquidate these properties [they are up for sale] to pay for the gaggle of 21 attorneys that are representing the various defendants in this case.
PRECISION PROPERTIES that I believe are still owned by the Bronfman sisters through Precision LLC or one of the shell companies owned by Bronfmans.
1. 4741 Libbit Ave., Encino, CA 91436
2. 13361 and 13349 Newcomb Ave., Sherman Oaks, CA 91423
3. 8209 and 8195 Lauremont, Los Angeles, CA 90046
4. 3769 and 3761 Avenida del Sol, Studio City, CA 91604
5. 22568 and 22574 W. Uhea Rd, Woodland Hills, CA
6. 4260 and 4180 Natoma Ave, Woodland Hills, CA 91364
7. 3800 Oakfield, Sherman Oaks, CA 91423
8. 1700 Viewmont, Los Angeles, CA 90069
9. 9812 Wanda Park, Beverly Hills, CA 90210
10. 8517 W. Franklin, tos Angeles, CA
11. 4220 N. Gentry, Studio City, CA 91604
12. 4001 Sumac Dr., Sherman Oaks, CA 91403
13. 2526 Benedict Cyn, Beverly Hills, CA 90210
14. 5898 Lorae, Los Angeles, CA 90068
15. 12212, 12218 and 12226 Laurel Terrace, Studio City, CA
16. 39920 Knobhill, Sherman Oaks, CA 91423
17. Vacant lots on Avenida del Sol, Studio City, CA; APN 2384-015-021, APN 2384-015-022
18. Vacant lot on Meadow Bay Drive, Lake Arrowhead, CA 92352, APN 0333-052-19
19. Property in Beverly Hills, California, APN 4382-001-34; 4382-001-35
Instead of any of the valuable Los Angeles properties, the less valuable Albany area properties are being pledged by Bronfmans.
Total Value of Sara Bronfman Interest in Real Estate $ 8,135,000
Total Value of Clare Bronfman Interest in Real Estate $4,515,000
Total Value of Real Estate $ 12,650,000
ACK Wakaya Holdings LLC Clare Bronfman $ 12,350,000
Total Value of Secured Assets $ 25,000,000
See the entire letter of Susan Necheles to Judge Giraufis: https://frankreport.com/wp-content/uploads/2018/08/2018-08-20-Letter-Motion-To-Modify-Terms-Of-release-For-Clare-Bronfman.pdf