FORM 1

INDIVIDUAL ESTATE PROPERTY RECORD AND REPORT

ASSET CASES

Page No:

Asset Fully Administered (FA)/

Gross Value of Remaining Assets

6

Sales/Funds

Received by 

the Estate

4 5

Property

 Abandoned 

OA =§ 554(a) abandon.

Estimated Net Value

(Value Determined by

Trustee,

Less Liens, Exemptions,

and Other Costs)

3

 Petition/

Unscheduled

Value

1 2

Asset Description

(Scheduled and

Unscheduled (u) Property)

Case Name:

Case No.: 21-21042

CITY VISION NATIONAL REVITALIZATION, LLC

Trustee Name:

Date Filed (f) or Converted (c): 11/19/2021 (f)

For the Period Ending: §341(a) Meeting Date: 

Claims Bar Date:

03/31/2024

Nicole Testa Mehdipour, Trustee

03/01/2022

04/05/2022

 1

Ref. #

1 TD Bank operating account #6213 $2,631.77 $2,631.77 $2,506.77 FA

2 TD Bank Account #1195 $73.81 $0.00 $0.00 FA

3 100 Graham Court Fort Walton Beach NE Unknown $299,640.00 $340,000.00

32548

FA

Asset Notes: Per Order Granting Application to Employ Realtor; ECF #46; Per Order Approving Sale ECF #75 and Report of Sale ECF #80

4 31 Nautilus Drive Barnegat NJ 08005 Unknown $338,040.58 $375,000.00 FA

Asset Notes: Per Order Granting Application to Employ Realtor ECF #46; Per Order Approving Sale; ECF #67 and Report of Sale #79

5 404 Holland Avenue, Forked River NJ 08731 Unknown $342,496.92 $375,000.00 FA

Asset Notes: Per Order Granting Application to Employ Realtor ECF #46; Per Order Approving Sale; ECF #68 and Report of Sale #81

6 2 domain names: www.cityvisionhomes.com Unknown $0.00 $0.00

www.cityvision.home Unknown

FA

7 516 NW Turner PL, Bartelsville, OK 74003 Unknown $0.00 $0.00 FA

Asset Notes: Property was not owned by the estate and was sold by the City prior to the bankruptcy - September 2, 2021.

8 5802 Mosby Rd., Meridan, MS 39307; vacant Unknown $0.00 $0.00

lot in high crime area

OA FA

9 1809 Kirkwood Blvd., Davenport, IA 52803; Unknown $0.00 $0.00

vacant lot in high crime area

OA FA

10 Avoidance Actions/Transfers $0.00 $80,000.00 $0.00

American Express

(u) $80,000.00

11 Refund from North Lane Tech (u) $0.00 $160.93 $160.93 FA

12 Refund of Insurance (u) $0.00 $105.63 $105.63 FA

13 Avoidance Action/Transfer Demand $0.00 $150,000.00 $0.00

Brad Geison and Ocean Title

$150,000.00

14 Fraudulent Transfer $0.00 $98,000.00 $0.00

FNBO

(u) $98,000.00

Asset Notes: Adv. 24-01142

TOTALS (Excluding unknown value) Gross Value of Remaining Assets

$2,705.58 $1,311,075.83 $1,092,773.33 $328,000.00

Major Activities affecting case closing:

Case 21-21042-MAM Doc 102 Filed 04/30/24 Page 1 of 6
FORM 1

INDIVIDUAL ESTATE PROPERTY RECORD AND REPORT

ASSET CASES

Page No:

Asset Fully Administered (FA)/

Gross Value of Remaining Assets

6

Sales/Funds

Received by 

the Estate

4 5

Property

 Abandoned 

OA =§ 554(a) abandon.

Estimated Net Value

(Value Determined by

Trustee,

Less Liens, Exemptions,

and Other Costs)

3

 Petition/

Unscheduled

Value

1 2

Asset Description

(Scheduled and

Unscheduled (u) Property)

Case Name:

Case No.: 21-21042

CITY VISION NATIONAL REVITALIZATION, LLC

Trustee Name:

Date Filed (f) or Converted (c): 11/19/2021 (f)

For the Period Ending: §341(a) Meeting Date: 

Claims Bar Date:

03/31/2024

Nicole Testa Mehdipour, Trustee

03/01/2022

04/05/2022

 2

Trustee has filed a motion for interim distribution of $499K to be approved by the Court. Trustee has settled avoidance action with Amex for $80K, subject to approval by Court. 

Another tentative settlement for $150K with Mr. Brad Geisen and Ocean Title resolving avoidance action, with a Tolling Agreement executed, extending 546(a) deadline through 

December 2024. Settlement in process of being documented and will be submitted to Court. 

A third avoidance action adversary was filed against FNBO seeking in excess of $98K.

03/29/2024

03/29/2024 Tax return filed.

10/10/2023 Claims review complete and Order entered. ECF #92

03/15/2023 Negotiating with preference transferees. Additional Chapter 5 claims to be pursued.

10/14/2022 Order entered Approving Sale of Property located at 100 Graham Ct.; ECF #75.

Order entered Approving Sale of Property located at 31 Nautilus; ECF #67

Order entered Approving Sale of Property located at 404 Holland Ave.; ECF #68

09/15/2022

09/08/2022 Trustee filed a Motion to Sell property located at 100 Graham Ct. Hearing is set for 10/04/22.

08/12/2022 Trustee filed a Motion to Sell the Property located at 404 Holland Avenue. Hearing is set for 09/07/2022.

08/02/2022 Notice of Taking Deposition Duces Tecum of Brad Geisen on August 8, 2022

06/22/2022 Order entered Granting Application to Employ Realtor; ECF #46

05/27/2022 Trustee filed Application to Employ Realtor to Sell the Real Properties; ECF #41

Estate holds onto 5 real properties in 4 states. All properties insured. One property in MS will be abandoned given the de minimus value and high cost of disposition. The remaining 

properties will be marketed and sold. Trustee will be filing an application to retain broker and approve listing agreements. Additionally, Trustee is in process of conducting investigation 

into various types of avoidance actions. Trustee intends to examine owners and managers in the coming weeks.

Claims bar date: 4/5/2022

Extension for tax returns filed.

03/31/2022

Initial Projected Date Of Final Report (TFR): 07/01/2023 Current Projected Date Of Final Report (TFR): 08/30/2024 /s/ NICOLE TESTA MEHDIPOUR, 

TRUSTEE NICOLE TESTA MEHDIPOUR, 

TRUSTEE

Case 21-21042-MAM Doc 102 Filed 04/30/24 Page 2 of 6
7

Balance

6

Disbursement

$

5

Deposit

$

1

Transaction

Date

2

Check /

Ref. #

Uniform

Tran Code

4

Description of Transaction

3

Paid to/

Received From

Page No: FORM 2

CASH RECEIPTS AND DISBURSEMENTS RECORD

Case Name:

Case No. Trustee Name: 

Bank Name:

Co-Debtor Taxpayer ID #: 

Primary Taxpayer ID #:

Account Title:

Checking Acct #:

For Period Beginning:

For Period Ending:

Blanket bond (per case limit):

Separate bond (if applicable):

21-21042

CITY VISION NATIONAL REVITALIZATION, LLC

Nicole Testa Mehdipour, Trustee

$52,222,000.00 

******4201

Veritex Community Bank

 1

04/01/2023

03/31/2024

**-***0115

02/16/2022 (1) TD Bank Turnover of closed bank account funds 1129-000 $2,506.77 $0.00 $2,506.77 

02/28/2022 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $1.56 $2,505.21 

03/31/2022 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $4.04 $2,501.17 

04/29/2022 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $4.03 $2,497.14 

05/31/2022 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $3.89 $2,493.25 

06/06/2022 Nicole Testa Mehdipour Per Order to Reimburse Administrative Expense dated 

5/25/22; ECF #40; partial payment.

3001 3120-000 $0.00 $2,480.00 $13.25 

06/30/2022 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $0.79 $12.46 

07/20/2022 (12) APIA INC. dba CIS. SERVICES Turnover of Insurance Refund 1229-000 $105.63 $0.00 $118.09 

07/29/2022 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $0.08 $118.01 

08/31/2022 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $0.19 $117.82 

09/23/2022 Veritex Community Bank Wire service fee 2600-000 $0.00 $10.00 $107.82 

09/23/2022 Veritex Community Bank Wire Service Fee 2600-000 $0.00 $10.00 $97.82 

09/27/2022 PEGASUS TITLE AGENCY LIMITED L Per Order Approving Application to Employ Realtor 

ECF #46; Per Order Approving Sale of Property; ECF 

#67 and per Report of Sale; ECF #79

* $338,040.58 $0.00 $338,138.40 

{4} Per Order Approving Application to 

Employ Realtor ECF #46; Per Order 

Approving Sale of Property; ECF #67 

and per Report of Sale; ECF #80

$375,000.00 1110-000 $338,138.40 

Real Estate Commissions ($22,500.00) 3510-000 $338,138.40 

Taxes to Township of Barnegat ($9,730.00) 2820-000 $338,138.40 

Sellers Attorney Fees to Shearer Law 

Firm

($2,000.00) 3991-000 $338,138.40 

Other closing costs ($2,729.42) 2500-000 $338,138.40 

SUBTOTALS $340,652.98 $2,514.58 

Case 21-21042-MAM Doc 102 Filed 04/30/24 Page 3 of 6
7

Balance

6

Disbursement

$

5

Deposit

$

1

Transaction

Date

2

Check /

Ref. #

Uniform

Tran Code

4

Description of Transaction

3

Paid to/

Received From

Page No: FORM 2

CASH RECEIPTS AND DISBURSEMENTS RECORD

Case Name:

Case No. Trustee Name: 

Bank Name:

Co-Debtor Taxpayer ID #: 

Primary Taxpayer ID #:

Account Title:

Checking Acct #:

For Period Beginning:

For Period Ending:

Blanket bond (per case limit):

Separate bond (if applicable):

21-21042

CITY VISION NATIONAL REVITALIZATION, LLC

Nicole Testa Mehdipour, Trustee

$52,222,000.00 

******4201

Veritex Community Bank

 2

04/01/2023

03/31/2024

**-***0115

09/27/2022 FIT AGENCY LLC Per Order Granting Application to Employ Realtor 

ECF #46; Per Order Approving Sale of Property 

located at 404 Holland Ave., ECF #68 and Report of 

Sale

* $342,496.92 $0.00 $680,635.32 

{5} Gross Sale of Property $375,000.00 1110-000 $680,635.32 

Realtor Commission ($16,875.00) 3510-000 $680,635.32 

Property Taxes ($3,880.10) 2820-000 $680,635.32 

Closing Costs ($11,747.98) 2500-000 $680,635.32 

09/28/2022 Veritex Community Bank Wire service fee refund 2600-000 $0.00 ($10.00) $680,645.32 

09/28/2022 Veritex Community Bank Wire service fee refund 2600-000 $0.00 ($10.00) $680,655.32 

09/30/2022 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $354.44 $680,300.88 

10/31/2022 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $1,026.97 $679,273.91 

11/03/2022 IDO J. ALEXANDER P.L. IOTA TRUST Per Order Granting Application to Employ Realtor; 

ECF #46; Per Order Approving Sale of Property ECF 

#75 and Report of Sale ECF #80

* $299,640.74 $0.00 $978,914.65 

{3} Gross Sale of Property $340,000.00 1110-000 $978,914.65 

Property Taxes ($9,765.33) 2820-000 $978,914.65 

Realtor Commissions ($24,000.00) 3510-000 $978,914.65 

Closing Costs ($6,593.93) 2500-000 $978,914.65 

11/30/2022 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $1,513.11 $977,401.54 

12/30/2022 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $1,577.23 $975,824.31 

01/31/2023 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $1,574.68 $974,249.63 

02/28/2023 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $1,420.00 $972,829.63 

03/27/2023 (11) North Lane Technologies. Inc. Refund from energy account 1229-000 $160.93 $0.00 $972,990.56 

03/28/2023 Nicole Testa Mehdipour Per Order to Reimburse Administrative Expense dated 

5/25/22; ECF #40; remainder of reimbursement owed.

3002 3120-000 $0.00 $5,799.53 $967,191.03 

03/31/2023 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $1,669.68 $965,521.35 

SUBTOTALS $642,298.59 $14,915.64 

Case 21-21042-MAM Doc 102 Filed 04/30/24 Page 4 of 6
7

Balance

6

Disbursement

$

5

Deposit

$

1

Transaction

Date

2

Check /

Ref. #

Uniform

Tran Code

4

Description of Transaction

3

Paid to/

Received From

Page No: FORM 2

CASH RECEIPTS AND DISBURSEMENTS RECORD

Case Name:

Case No. Trustee Name: 

Bank Name:

Co-Debtor Taxpayer ID #: 

Primary Taxpayer ID #:

Account Title:

Checking Acct #:

For Period Beginning:

For Period Ending:

Blanket bond (per case limit):

Separate bond (if applicable):

21-21042

CITY VISION NATIONAL REVITALIZATION, LLC

Nicole Testa Mehdipour, Trustee

$52,222,000.00 

******4201

Veritex Community Bank

 3

04/01/2023

03/31/2024

**-***0115

04/28/2023 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $1,407.28 $964,114.07 

05/31/2023 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $1,555.78 $962,558.29 

05/31/2023 Ido Alexander, Esquire Special Counsel for Trustee Fees per Court Order dated 

05/31/2023; ECF #88

3003 3210-600 $0.00 $146,468.86 $816,089.43 

05/31/2023 Ido Alexander, Esquire Special Counsel for Trustee Expenses per Court Order 

dated 05/31/2023; ECF #88

3004 3220-610 $0.00 $784.80 $815,304.63 

05/31/2023 Nicole Testa Mehdipour, Esquire Attorney for Trustee Fees per Court Order dated 

05/31/2023; ECF #88

3005 3110-000 $0.00 $146,468.86 $668,835.77 

06/30/2023 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $1,144.77 $667,691.00 

07/31/2023 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $1,007.93 $666,683.07 

08/31/2023 Veritex Community Bank Bank Service Fee 2600-000 $0.00 $1,075.82 $665,607.25 

TOTALS:

Less: Bank transfers/CDs

Subtotal

Less: Payments to debtors

Net

$982,951.57 $317,344.32 

$0.00 $0.00 

$982,951.57 $317,344.32 

$0.00 $0.00 

$982,951.57 $317,344.32 $665,607.25 

Total Compensable Receipts:

Total Non-Compensable Receipts:

Total Comp/Non Comp Receipts:

Total Internal/Transfer Receipts:

Total Compensable Disbursements:

Total Non-Compensable Disbursements:

Total Comp/Non Comp Disbursements:

Total Internal/Transfer Disbursements:

$0.00 

$0.00 

$0.00 

$299,914.10 

$0.00 

$299,914.10 

$0.00 

$0.00 

$1,092,773.33 

$0.00 

$427,166.08 

$0.00 

$1,092,773.33 

$427,166.08 

$0.00 

Total Compensable Receipts:

Total Non-Compensable Receipts:

Total Comp/Non Comp Receipts:

Total Internal/Transfer Receipts:

Total Compensable Disbursements:

Total Non-Compensable Disbursements:

Total Comp/Non Comp Disbursements:

Total Internal/Transfer Disbursements: $0.00 

For the period of 04/01/2023 to 03/31/2024 For the entire history of the account between 02/16/2022 to 3/31/2024

Case 21-21042-MAM Doc 102 Filed 04/30/24 Page 5 of 6
7

Balance

6

Disbursement

$

5

Deposit

$

1

Transaction

Date

2

Check /

Ref. #

Uniform

Tran Code

4

Description of Transaction

3

Paid to/

Received From

Page No: FORM 2

CASH RECEIPTS AND DISBURSEMENTS RECORD

Case Name:

Case No. Trustee Name: 

Bank Name:

Co-Debtor Taxpayer ID #: 

Primary Taxpayer ID #:

Account Title:

Checking Acct #:

For Period Beginning:

For Period Ending:

Blanket bond (per case limit):

Separate bond (if applicable):

21-21042

CITY VISION NATIONAL REVITALIZATION, LLC

Nicole Testa Mehdipour, Trustee

$52,222,000.00 

******4201

Veritex Community Bank

 4

04/01/2023

03/31/2024

**-***0115

TOTAL - ALL ACCOUNTS NET DEPOSITS DISBURSE

NET

BALANCES

ACCOUNT

$982,951.57 $317,344.32 $665,607.25 

Total Compensable Receipts:

Total Non-Compensable Receipts:

Total Comp/Non Comp Receipts:

Total Internal/Transfer Receipts:

Total Compensable Disbursements:

Total Non-Compensable Disbursements:

Total Comp/Non Comp Disbursements:

Total Internal/Transfer Disbursements:

$0.00 

$299,914.10 

$0.00 

$0.00 

$299,914.10 

$0.00 

$0.00 

$0.00 

Total Compensable Receipts:

Total Non-Compensable Receipts:

Total Comp/Non Comp Receipts:

Total Internal/Transfer Receipts:

Total Compensable Disbursements:

Total Non-Compensable Disbursements:

Total Comp/Non Comp Disbursements:

$1,092,773.33 

$0.00 

$427,166.08 

$0.00 

$1,092,773.33 

$427,166.08 

$0.00 

Total Internal/Transfer Disbursements: $0.00 

/s/ NICOLE TESTA MEHDIPOUR, TRUST

NICOLE TESTA MEHDIPOUR, 

TRUSTEE

For the period of 04/01/2023 to 03/31/2024 For the entire history of the account between 02/16/2022 to 3/31/2024

Case 21-21042-MAM Doc 102 Filed 04/30/24 Page 6 of 6