New Jersey Tax Lien Class Action Settlement
NJ tax lien settlement Class Members include all individuals who owned property in New Jersey and who had a Tax Sale Certificate issued with respect to their property that was purchased by one of the named Defendants between Jan. 1, 1998 and Feb. 28, 2009 at a public auction in New Jersey at an interest rate above 0%.
Here is a list of the defendants:William A. Collins Isadore H. May Richard J. Pisciotta, Jr. Norman T. Remick Robert E. Rothman Robert W. Stein Lambros Xethalis Michael Mastellone Royal Bancshares of Pennsylvania, Inc. Royal Bank America Crusader Servicing Corporation Royal Tax Lien Services, LLC M.D. Sass Investors Services, Inc. M.D. Sass Tax Lien Management, LLC M.D. Sass Municipal Finance Partners – I, L.P. M.D. Sass Municipal Finance Partners – II, L.P. M.D. Sass Municipal Finance Partners – III, LLC M.D. Sass Municipal Finance Partners – IV, LLC M.D. Sass Municipal Finance Partners – V, LLC M.D. Sass Municipal Finance Partners –VI, LLC Vinaya K. Jessani Stephen E. Hruby David Butler David M. Farber CCTS, LLC CCTS Tax Liens I, LLC CCTS Tax Liens II, LLC DSBD, LLC Pro Capital LLC Pro Capital Fund I, LLC Burlington Assembly of God, Inc. d/b/a Fountain of Life Center Mercer S.M.E. Inc. Susan M. Esposito David B. Boudwin BBX Capital Corporation f/k/a BankAtlantic Bancorp, Inc. Fidelity Tax, LLC Heartwood 55, LLC Michael Deluca Gary I. Branse David Jelley Phoenix Funding, Inc. Benedict Caiola BBX Capital Corporation f/k/a BankAtlantic Bancorp, Inc. Fidelity Tax, LLC Heartwood 55, LLC Michael Deluca Gary I. Branse David Jelley CCTS Capital LLC n/k/a Crestar Capital, LLC William S. Green Richard Simon Trustee Betty Simon Trustee, LLC Joseph Wolfson Pat Caraballese PAM Investors Robert U. Del Vecchio Sr. Robert U. Del Vecchio PensionTrust Plymouth Park Tax Services, LLC American Tax Funding, LLC Mooring Tax Asset Group, LLC
Proof of Purchase
Proof of Ownership
In Re New Jersey Tax Sales Certificates Antitrust Litigation
Case No. 3:12-CV-01893-MAS-TJB
District Court for the District of New Jersey
Each year, every municipality in New Jersey holds a public auction at which the municipality sells TSCs, which operate as liens on real property. Under state law, the bidding on these TSCs begins at 18% for the interest rate associated with the TSC. The bidder who offers to purchase the TSC at the lowest interest rate is the winning bidder. In this case, Defendants are accused of entering into an illegal agreement or understanding to divide the available TSCs among themselves and also of entering into an illegal agreement not to bid against each other when TSCs came up for bid. As a result of these alleged agreements, the Lawsuit claims that the interest rates associated with TSCs were higher than they otherwise should have been – making it more expensive for affected property owners to pay to redeem the TSC.