Manor House In Ken Caryl Valley Faces Foreclosure

January 7th, 2008

The Manor House has a popular history behind its name. It has been the venue of weddings, parties and corporate gatherings for quite some time as per records in Jefferson County Public Trust Office. But foreclosures understand nothing. A notice was filed on 31^st December.

T&T LLC, the owners have till 12^th February to file an objection and mend matters. If the delayed accrued loan amounts are not paid, an auction will be held on 27^th February.

The manor is a heritage building going back nearly hundred years – its exquisite white columns speaking of bygone graceful years. It was bought for $2.4 million in 2006 March. For the last few months the owners have been trying to sell it by asking for $7.5 million. T&T say that they have already spent more than $400,00 on repairs and renovations.

The principals of T&T are the offspring of Michael Shinn. He was a businessman who set up an organization called National Home Buyers Assistance or NHBA based in Ohio. It is now in operation since early 200. It funded a rent-to-own property investment scheme.

Two ex-executives of NHBA are suing T&T, Shinn and NHBA in the Denver District Court. Daniel Siedlecki and Peter Tandy are claiming that were paid less than what was promised. The two are also seeking a stake in the Manor House. They allege that it was purchased with NHBA funds.

Shinn has protested saying that the money belonged to his children Todd and Tiffany. The father together with the two children has filed a counter claim running into millions of dollars against Siedlecki and Tandy. The contention is that the lawsuit has resulted in negative publicity hurting the business interests of Manor House. This has made refinancing difficult.

According to court documents Shinn and his children planned to shut down permanently the restaurant in Manor House on 1^st January 2008. They claimed that because of the notoriety, business was at an all time low making it impossible for them to run the show. The volume of work has come down by half. However a website run by Manor House does not make any such claims of the restaurant being shut down – in fact reports are that it is still very much in operation.

The original case has been postponed following the counter suing by the T&T and Shinn.