ICA auction house files for bankruptcy
According to the Arizona Republic, Stanley D. Torgerson of ICA auction house filed for Chapter 11 bankruptcy protection on Feb. 14 in U.S. Bankruptcy Court. The news source also stated…
According to the Arizona Republic, Stanley D. Torgerson of ICA auction house filed for Chapter 11 bankruptcy protection on Feb. 14
in U.S. Bankruptcy Court. The news source also stated that a police investigation of the victims' claims
also is continuing. Those claims extend beyond Arizona, stretching to Texas, Alabama and even Wisconsin.
When Torgerson filed, he did not list more than $600,000 alleged losses by customers who claim they were not paid for selling their cars through ICA in the $2.3 million in debts he did record.
Thus far, 40 people have alleged claims against Torgerson, stating they have not been paid for selling their cars through ICA.
Angelo Van Bogart is the editor of Old Cars magazine and wrote the column "Hot Wheels Hunting" for Toy Cars & Models magazine for several years. He has authored several books including "Hot Wheels 40 Years," "Hot Wheels Classics: The Redline Era" and "Cadillac: 100 Years of Innovation." His 2023 book "Inside the Duesenberg SSJ" is his latest. He can be reached at avanbogart@aimmedia.com