Basket Building Longaberger Faces Foreclosure

by San Antonio Attorney

Longaberger Co. is being given a few days to answer notice of foreclosure or settle unpaid property taxes to avoid foreclosure on its market basket building.

The company received a letter from Licking County Treasurer Olivia Parkinson notifying further action on the east Newark, Ohio property.  The remaining staff left the company on July 15.

The former billion-dollar business owes $605,219 in property taxes.  According to Parkinson, Longaberger’s debt started in November 2014.

The decision to move forward with the foreclosure was caused by lack of development on finding solutions for the issues at hand.

The spokesman of Longaberger denied receiving any foreclosure notice and said the company is talking with Newark on resolving the problem with the building.

The property is reportedly on the market for the past 18 months with an asking price of $7.5 million, and the amount has been reduced to $5 million.

According to Newark Mayor Jeff Hall, the county treasurer is just applying the standard procedure for delinquent properties.

Since November 2014, the only time the county reached out to Longaberger was in the spring of last year, Parkinson said.

The foreclosure procedure would start with a search of title for other property liens, and afterwards a grievance filed with the court.  A sheriff’s sales would be carried out, and the starting bid is the amount of debt on property taxes.

If no one wants to buy the building, it would be handed over to Newark or land bank.

Land bank director Roy Van Atta said the financial institution has no plan of seizing the property and they do not expect to be involved in the issue.

The mayor of Newark also said the city is not keen in acquiring the building.

The last resort would be an auditor’s auction, which does not require a minimum offer, according to Parkinson.

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