Charlottesville?s most famous bankrupted millionaire is packing her bags and moving to New York City.
Patricia Kluge and her husband, William Moses, filed a notice in U.S. District Court on Wednesday informing bankruptcy attorneys of their change of address, which is effective immediately.
While they look for a permanent residence, Kluge and Moses will reside in the University Club, a prestigious private club located at West 54th Street and Fifth Avenue, Moses said.
?We have both lived in New York for extended periods of time,? Moses said in a phone interview Thursday. He added that he and Kluge decided to relocate ?because we?re not in the wine business anymore.?
?We?ll still spend time in Charlottesville,? Moses said Thursday.
Kluge was the owner of the now-bankrupt Kluge Estates Winery and Vineyard, one of the largest wineries in the state. She secured a number of loans against her personal property, including the 23,500-square-foot Albemarle House she once shared with ex-husband John W. Kluge, to support the vineyard. Kluge filed for Chapter 7 bankruptcy after the 2008 economic downturn.
Donald Trump bought the vineyard and winery building in April 2011 after hours of spirited bidding and more than $6 million. He renamed it Trump Winery, leaving his son, Eric Trump, in charge of the property?s day-to-day operations. Kluge served as vice-president of Trump Winery for one year after the sale. Though her contract was not renewed when it expired earlier this year, winery officials said previously that Kluge would continue to work with the winery on a contract basis.
Moses said the couple is now exploring new business endeavors, but did not elaborate.
Trump became the sole owner of Kluge?s entire estate last month when he purchased Albemarle House for $6.5 million, a bargain compared to the property?s original $100 million asking price.
The Trumps found themselves in federal court over Albemarle House last year, arguing that Trump Virginia Acquisitions, LLC had a right to first refusal on the sale of the property because of a stipulation in the deed. A federal judge ruled that the Trumps had no special claim on the property earlier this year.
The couple filed bankruptcy last year after seeing banks foreclose on their winery, manor home, a luxury housing development, a closed gas station/bistro in downtown Charlottesville and their personal residence.
The filing put the couple?s assets under Chapter 7 bankruptcy protection and under the control of a court-appointed trustee. The filing indicated the couple?s debts were ?primarily business debts.?
There were at least three banks involved in Kluge/Moses proceedings. They include Sonabank, which foreclosed upon the couple?s Vineyard Estate development, Bank of America, which foreclosed on Kluge?s Albemarle House manor home and Farm Credit Bank, which foreclosed on the vineyard and winery.
Vineyard Estates was a joint effort with First Colony Resorts of North Carolina but First Colony went bankrupt in September 2009 due to the economic collapse and decimation of the real estate market.
The home sites were projected to include pools, outdoor kitchens, formal gardens, wine cellars, tennis courts and spaces for vineyards.
Bank of America foreclosed on the 23,500-square-foot Albemarle House mansion property for default on loans valued at nearly $23 million. Those loans helped finance the winery and vineyard operations. Much of the furnishings in Albemarle House, including some draperies, were dedicated in a loan agreement to Farm Credit Bank after the winery?s sales failed to meet those set out in the loan agreement.
Kluge and Moses defaulted on the winery loans in September 2010 after their effort to take their wines to national and international markets fell in the midst of The Great Recession.
The Albemarle County home Kluge and Moses have been residing in leading up to the move is owned by Sonabank, Moses said.
Moses declined to say if he and Kluge were interested in buying property in New York City.
?Frankly, that?s nobody?s business but ours,? he said.
Source: http://www2.dailyprogress.com/news/2012/oct/11/kluge-moses-relocate-new-york-ar-2276273/
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