Marina Dock Age

The $1.85 million foreclosure sale on Flagship Marina in Sebastian, Fla., is scheduled for May 24, according to an April 22 report on the Treasure Coast Newspaper Website, www.tcpalm.com.

The property along the Indian River Lagoon was scheduled to be sold last November, but owner Damien Gilliams filed for Chapter 11 bankruptcy protection in an attempt to keep the property. He hand delivered his bankruptcy documents to the local courts just minutes before the auction on Nov. 6, and the foreclosure sale was cancelled.

A trustee of the U.S. Bankruptcy Court Southern District in Miami dismissed Gilliams’ case, and the court officially closed the case in April.

Public records show that the land housing Flagship Marina was purchased in 2003 for $800,000. Court records show Oculina Bank provided a mortgage on the property in September 2006 for $1.7 million. The documents state money was also to be used to repair boat docks at Paradise Marina in Sebastian, formerly owned by Gilliams.

Gilliams previously filed for Chapter 11 bankruptcy in 2008 to protect Paradise Marina Enterprises Inc., which sold at a foreclosure auction for $100 last October back to its original creditor.

In December, Gilliams paid $68,494.40 to the state, stemming from a plea deal that spared him a conviction and jail time. The Department of Environmental Protection had accused him of submitting fraudulent grant applications to the agency’s Clean Marina program. Adjudication of guilt was withheld in the case, but Circuit Judge Robert Hawley ordered Gilliams to pay back the grant money and investigative fees to the state.