Nope -- Hug is dreaming if he thinks he can squeeze two nickels from this buffalo! Refresher on the Dulos inventory...
Fotis Dulos is dead, but the fight for child support continues as grandmother seeks money from estate
March 7, 2020
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A preliminary inventory filed this week by Christopher Hug, the temporary administrator of Fotis Dulos’ estate, showed that Dulos had $272 in two separate bank accounts and that Fore Group Inc., Dulos’ home building company, has a balance of zero. Hug said Fore Group owns several properties, including the Farmington mansion where Dulos tried to kill himself in January, but all of them carry significant debt.
“It is anticipated that the estate may be insolvent,” Hug said.
[...]
Hug is proposing to “loan” Fore Group Inc. $25,000 and make him the new CEO of the company in order to determine whether selling the assets will eventually yield any funds for the estate.
Hug listed at least six houses or vacant properties that Fore Group owns, and all of them are either already in foreclosure or about to be. Those properties include:
- 61 Sturbridge Hill Road in New Canaan, which is appraised at $3,846,600 but has a mortgage of $2.79 million and other debt totaling $1.2 million. The Savings Bank of Danbury has filed a foreclosure notice.
- 80 Mountain Spring Road in Farmington, which is appraised at $1.28 million but has mortgages totaling $1.73 million.
- 585 Deercliffe Road in Avon, which is appraised at $666,125 and has a principal mortgage of about $1.3 million. There is a dilapidated home on the property, and Dulos planned to tear it down and build a new high-end home with a view of the Farmington Valley, but the project never commenced.
- 4 Jefferson Crossing in Farmington, which is currently in foreclosure and is also the subject of a civil lawsuit by Farber against Dulos. Farber has set up a trust that has been paying the mortgage and taxes on the property for several months.
- Two vacant lots at 84 and 88 Mountain Spring Road appraised at $231,137 and $228,337 respectively. Hug said he expects People’s Bank to be filing foreclosure notices on all three Mountain Spring Road properties soon.
Hug said with the $25,000, he can ensure that all of the properties are properly insured, maintain them so the don’t depreciate more in value, defend the company’s interests in foreclosure proceedings and prepare them for sale.
ETA: If anybody remembers the Jarmoc tobacco farm probate battle a few years ago, Chris Hugg represented the son/brother S. Jarmoc.