Skip to main content
Advertising

Originally published February 6, 2012 at 4:33 PM | Page modified February 7, 2012 at 6:27 AM

  • Share:
           
  • Comments (2)
  • Print

Mastro creditors due to get 1 percent of what's owed

A federal bankruptcy judge has approved distribution of $2.8 million in recovered funds to fugitive Seattle real-estate magnate Michael R. Mastro's many creditors.

By Seattle Times business staff

Most Popular Comments
Hide / Show comments
...........as usual, they never tell us what percentage of the recovered money went for... MORE
A federal bankruptcy judge has approved distribution of $2.8 million in recovered funds... MORE

advertising

A federal bankruptcy judge has approved distribution of $2.8 million in recovered funds to fugitive Seattle real-estate magnate Michael R. Mastro's many creditors.

Checks should be mailed later this month, trustee James Rigby said. Creditors will get just over 1 percent of what Mastro owes them — approved and pending unsecured claims total more than $270 million.

Judge Marc Barreca approved the payments Friday over the objection of former Mastro associate Hendrik Dorssers. He argued the money should be held in reserve while he appeals a ruling denying him any of the proceeds from the 2010 sale of Mastro's Medina waterfront mansion.

News where, when and how you want it

Email Icon

The Seattle Times photographs

Seattle space needle and mountains

Purchase The Seattle Times images


Advertising