Luby Estate in Auction Over Unpaid Mortgage
The Newport Beach estate of Roger W. Luby, who along with Aissa Wayne, John Wayne’s daughter, was bound and pistol-whipped in a brutal attack last October, will be auctioned in mid-February to pay the mortgage’s unpaid balance of about $1.15 million.
According to a public notice published on Jan. 26, a trustee will sell the property at 2321 22nd St. to the highest bidder in a public auction to be held at noon Thursday at the main quadrangle entrance to the Placentia City Hall, 401 E. Chapman Ave., Placentia.
$1.15 Million Minimum Bid
The minimum bid is about $1.15 million. In the past, the estate has been valued at more than $3 million.
Luby filed for bankruptcy in 1987 when, he alleges, a group of lenders reneged on an agreement to provide him $56 million to finance the rehabilitation of the historic Broadway department store at Broadway and 4th Street in Los Angeles.
A suit by Luby against the lenders is pending in court.
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