Monday, May 30, 2022

Coleman Tries to Sell home for $560K

 This post is reprinted with permission of The Taxpayers Channel (Greenwood). 

John Coleman's bankruptcy attorney has petitioned the court to approve the sale of Coleman's home on Robert E Lee Drive for $560,000.

The Taxpayers Channel previously reported that Mr. Coleman was seeking to sell his home. The asking price was $650,000. See our previous reporting here: Express Grain president John Coleman's residence listed for sale

The petition to sell the house may be seen here: Motion to Approve Sale of Coleman Home

The petition explains that after deducting closing costs and property taxes, half the sale proceeds will be paid to Jennefer Coleman, Mr. Coleman's wife, who by law has a half ownership interest in the family domicile.

The remaining half will be paid into an escrow account to await further order of the bankruptcy court, after deducting the Colemans' legally authorized $75,000 homestead exemption which they are entitled by law to keep. This should leave something a little less than $200,000 with which to pay creditors in the bankruptcy case.

Coleman, who is president of bankrupt Express Grain, has $92.7 million in claims filed against him in his personal bankruptcy case. To see the creditor claims, click here: Final Claims Register in John Coleman Personal Bankruptcy Case

Most of those claims result from the bankruptcy of Express Grain. UMB Bank was given a default judgment for $71 million against Mr. Coleman personally, due to fraud allegedly committed by Coleman against the bank. See our previous reporting here: Court hits Express Grain president John Coleman with $71 million judgment in favor of UMB Bank

This judgment in favor of UMB Bank will survive the bankruptcy discharge, meaning that Mr. Coleman will still owe this amount even after his bankruptcy debts are discharged. It is anticipated that this amount will be reduced by whatever amount UMB Bank receives from the EG bankruptcy case itself.

Other large creditor claims filed against Coleman personally include:

$262,229.00 - MS Department of Revenue
$1,100,000.00 - Travelers Casualty and Surety Company
$9,247,642.64 - Bank of Commerce
$8,222,204.02 - First South Farm Credit
$2,482,700.00 - Southern AG Credit 

$750,000.00 - Mississippi Development Authority 



Anonymous said...

As cooked as he is, he ought to just burn it down, collect the insurance, and keep from having to pay a sales commission.

Anonymous said...


Anonymous said...

I really don’t understand how this affects us. The Delta is a totally different world than what we live in. Great people for the most but it’s a different world.

PittPanther - ACC Champs said...

Robert E Lee drive. Jesus Christ, WTF? What year is this?

Anonymous said...

Not even an antebellum house. Just a fake. Just like him. .

John Pittman Hey said...

I was outside Coleman's home the day the FBI raided it, on February 24, working on a news article. I was struck with the fact that it wasn't as nice looking as the surrounding houses. It has a huge lot, but not much house. The pictures indoors on the realtor's site show very sterile, cold interiors and very little, but very modern, furniture. It made me sad to think he paid to build that house in that particular neighborhood. It just didn't fit in at all with the surroundings.

Anonymous said...

John Pittman Hey, I have followed your coverage of this situation on the Taxpayers Channel. You have done an excellent job with coverage. I know Kingfish has posted your articles occasionally (with permission). He always gives you the credit.

Anonymous said...

Use to hear set up in FL, think TX also protects your residence when being taken down. But not sure about the power of Feds and government, take for granted they can break anyone without a conviction. Any insights by those who are not myth chasers like me.

Anonymous said...

MDA 2.0 ..... "Were all those NEW Jobs created as required.? "

John Pittman Hey said...

The Colemans weren't forced to sell their home. That was their decision. But they probably need the cash to pay for lawyers, etc. They are required to get the court's permission before they dispose of assets. They went through the same process when they sold their previous house several months ago.

Anonymous said...

I think I will wait until the tax sale.

Anonymous said...

Another fine example of an excellent waste of MS Development Authority money.

Recent Comments

Search Jackson Jambalaya

Subscribe to JJ's Youtube channel


Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).

Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.

In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS