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Ex-LesCare Kitchens owner loses mansion [Waterbury Republican-American, Conn.](Waterbury Republican-American (CT) Via Acquire Media NewsEdge) Nov. 9--AVON, Conn. -- James C. Lestorti lost his family business, and now he's lost his home. The controversial former co-owner of LesCare Kitchens Inc., a 50-year-old Waterbury-based kitchen cabinet manufacturer that was forced into bankruptcy by creditors in 2005, lost his multimillion-dollar gated mansion at 48 Northington Drive after it was foreclosed on in June by Webster Bank. The 7,206-square-foot home at one time was valued at more than $2.1 million. It was purchased from Webster Bank in September by PBG Property Management LLC in Farmington for $975,000 and resold a few days later to Shelley Silverman of Avon for $1.275 million. Also, assorted items from the house -- including a $24,000 theater sound system -- that were confiscated by a state marshal will be sold at auction on Friday. Webster Bank took possession of the home in June following two related foreclosure proceedings in Hartford Superior Court, one filed by the bank and one filed by Building Traditions LLC, which constructed the home. Building Traditions filed its foreclosure action in Sept. 2005, claiming Lestorti had failed to pay $330,000 he owed to the Avon company and its managing partner, David Somers. According to court documents, part of that debt related to a $250,000 check Lestorti wrote during the 2004 closing on the home held at a Farmington law firm. The check was later returned for insufficient funds. Lestorti was subsequently arrested by Farmington police in April 2006 on a charge of issuing a bad check. He was acquitted of that charge during a trial earlier this year. Webster Bank filed its foreclosure action shortly after Building Traditions' filing. According to court documents, Webster claimed the $1.8 million mortgage it held on the property should take priority over the debt owed to Building Traditions. Judge James T. Graham in June approved a stipulated judgment ordering Lestorti to pay Building Traditions $50,000, while allowing Webster to foreclose. Lestorti agreed to move out and leave the home in "broom clean" condition. Following the ruling, a state marshal took possession of most of the contents of the home, which were being held by a moving and storage company that was to transport the items to Florida, where Lestorti now lives. The items were turned over to Clearing House Auction Galleries Inc. LLC of Wethersfield, which will auction them off on Friday. The company's Web site lists the items up for sale, everything from a faux French-style cabinet and two Louis XVI side chairs to the theater system, a large-screen Parasound home theater system by Yamaha valued at $23,900. John LeClair, owner of Clearing House Auction Galleries, described the items as "high-quality stuff, but not high-quality value," adding that this appeared to be a case where "nouveau riche people were buying stuff and not getting their value's worth." Still, he expects the auction to raise between $75,000 and $100,000. The public will be allowed to inspect the items for sale on Thursday and Friday from noon to 6:30 p.m. at Clearing House Auction Galleries' facility at 207 Church St. in Wethersfield. The auction will begin at 6:30 p.m. Friday. Photos of some of the items are posted on the company's Web site, www.clearinghouseauctions.com. Any money above $50,000 that is raised by the auction will be used to cover the marshal's fees and expenses, as well as those of the auction facility. Anything left after that would go to Lestorti or to others with claims against him or his companies. Lestorti could not be reached for comment. His lawyer, Margaret Rattigan of Murphy, Laudati & Kiel of Farmington, did not return a call seeking comment. To see more of the Waterbury Republican-American, or to subscribe to the newspaper, go to http://www.rep-am.com. Copyright (c) 2009, Waterbury Republican-American, Conn. Distributed by McClatchy-Tribune Information Services. For reprints, email [email protected], call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. |