14644828v.1 O23881/399263

UNITED STATES BANKRUPTCY COURT 

SOUTHERN DISTRICT OF FLORIDA 

MIAMI DIVISION 

IN RE: PAUL WIGODA, Chapter 11 

 Case No. 19-22567-AJC 

 Debtor. 

_______________________________/ 

SECURED CREDITOR, 18201 COLLINS 

AVENUE CONDOMINIUM ASSOCIATION, INC.’S, 

OBJECTION TO CONFIRMATION OF DEBTOR’S AMENDED PLAN OF 

REORGANIZATION 

 COMES NOW SECURED CREDITOR, 18201 COLLINS AVENUE CONDOMINIUM 

ASSOCIATION, INC. (hereinafter referred to as “Association”), by and through its 

undersigned attorneys and files this Objection to Confirmation of Debtor’s Amended Plan of 

Reorganization and as grounds therefore would state as follows: 

STATEMENT OF JURISDICTION 

1. The Debtor has filed this case under Chapter 11 of the Bankruptcy Code. 

2. This court has jurisdiction of the parties and the subject matter pursuant to the 

Bankruptcy Code, 11 U.S.C. Section 101, et seq., 28 U.S.C. Sections 1334 and 1579(a). 

3. The statutory predicates for the relief sought herein is section 105(a) of the 

Bankruptcy Code, as complemented by Rule 9014 of the Federal Rules of Bankruptcy Procedure. 

FACTS 

4. On September 20, 2019, the Debtor filed this case under Chapter 11 of the 

Bankruptcy Code. 

Case 19-22567-AJC Doc 313 Filed 01/28/21 Page 1 of 4
Secured Creditor, 18201 Collins Avenue Condominium Association, Inc.’s 

Motion for Order Permitting Formal Appraisal of Real Property 

Case No. 19-22567-AJC 

LAW OFFICES 

BECKER & POLIAKOFF 

1 EAST BROWARD BLVD. • SUITE 1700 • FT. LAUDERDALE, FL 33301 

TELEPHONE (954) 987-7550 

14644828V.1 O23881/399263

5. The Association is a Florida not-for-profit corporation and is the condominium 

association responsible for the operation and management, of the residential condominium now 

known as “Trump Royale.” 

6. Debtor, PAUL WIGODA, is a record co-owner and holder of fee simple title to 

real property located at 18201 Collins Avenue, Units 1709 and 1808A, with the following legal 

description (hereinafter “Subject Property”): 

Condominium Units 1709 & 1808A in TRUMP ROYALE, A CONDOMINIUM, 

according to the Declaration of Condominium recorded on November 6, 2008, in 

Official Records Book 26642, at Page 626, of the Public Records of Miami-Dade 

County, Florida, as amended, together with an undivided interest in the common 

elements appurtenant thereto. 

7. According to the Debtor’s proposed Amended Plan [DE 243], the Debtor intends 

to repay several secured creditors, including 18201 Collins Avenue Condominium Association, 

Inc., through a private sale of the subject property one year from the effective date of the Amended 

Plan: 

8. Following filing of the proposed Amended Plan, the Association filed an amended 

Proof of Claim for $55,630.75 and a Notice of Post-Petition Fees in the amount of $15,770.00 

Case 19-22567-AJC Doc 313 Filed 01/28/21 Page 2 of 4
Secured Creditor, 18201 Collins Avenue Condominium Association, Inc.’s 

Motion for Order Permitting Formal Appraisal of Real Property 

Case No. 19-22567-AJC 

LAW OFFICES 

BECKER & POLIAKOFF 

1 EAST BROWARD BLVD. • SUITE 1700 • FT. LAUDERDALE, FL 33301 

TELEPHONE (954) 987-7550 

14644828V.1 O23881/399263

9. All total, there are approximately $8,313,218.45 in secured claims against the 

subject property. 

10. The subject property is currently listed at $12,500,000.00. 

11. The Association did not believe that this sales price accurately reflected the fair 

market value of the property and filed a Motion for Order Permitting Formal Appraisal, which was 

granted on November 19, 2020. 

12. The appraisal took place in December 2020. The formal appraisal report is attached 

hereto as Exhibit “A.” 

13. Per the appraisal, the subject property’s estimated value is $6,500,000.00 as of 

12/01/202. This is $6,000,000.00 LESS than the Debtor’s listing price. 

14. In the approximately 407 days since the property was listed for sale, there have 

been no listing price reductions despite having no sales activity at the property. 

15. It is suspected that the property may be strategically overpriced to deter sales 

activity and payment to secured creditors allowing the Debtor to reside in the property with his 

family using the services and amenities paid for by the other paying owners of the community 

while benefiting from the protections afforded by the bankruptcy stay. 

16. Given the appraisal report, which values the property at $6,000,000.00 less than the 

$12,500,000.00 sales price, the Association objects to the confirmation of Debtor’s proposed 

Amended Plan. 

Case 19-22567-AJC Doc 313 Filed 01/28/21 Page 3 of 4
Secured Creditor, 18201 Collins Avenue Condominium Association, Inc.’s 

Motion for Order Permitting Formal Appraisal of Real Property 

Case No. 19-22567-AJC 

LAW OFFICES 

BECKER & POLIAKOFF 

1 EAST BROWARD BLVD. • SUITE 1700 • FT. LAUDERDALE, FL 33301 

TELEPHONE (954) 987-7550 

14644828V.1 O23881/399263

WHEREFORE, Secured Creditor, 18201 COLLINS AVENUE CONDOMINIUM 

ASSOCIATION, INC., prays that this Court deny confirmation of Debtor’s proposed Amended 

Plan and for any and all further relief as justice may require. 

CERTIFICATE OF SERVICE 

 I HEREBY CERTIFY that a true and correct copy of the foregoing was furnished via 

CM/ECF Electronic Noticing to those parties registered to receive electronic noticing including 

Joshua Lanphear, Esq., jlanphear@slp.law; Bradley Shraiberg, Esq., bss@slp.law; Johanna 

Armengol, Esq., Office of the U.S. Trustee, Johanna.Armengol@usdoj.gov, and Steven D. 

Schniederman, Esq., Steven.D.Schneiderman@usdoj.gov; and by US Mail to: Michael Mangold, 

901 E. Las Olas Blvd., Suite 101, Ft. Lauderdale, Florida 33301 and to those who have not elected 

to receive service electronically in this case on this 28th day of January, 2021. 

BECKER & POLIAKOFF, P.A. 

Attorneys for Creditor 

1 E. Broward Blvd., Suite 1700 

Ft. Lauderdale, Florida 33301 

Telephone: (954) 985-4102 

Facsimile: (954) 987-5940 

csolis@beckerlawyers.com 

By: / s / K. Joy Mattingly____ 

 K. Joy Mattingly, Esq. 

 Florida Bar No. 17391 

Case 19-22567-AJC Doc 313 Filed 01/28/21 Page 4 of 4