MINNEAPOLIS -- A U.S bankruptcy judge has ruled that former automobile mogul Denny Hecker can't claim his multimillion-dollar Crosslake property as his homestead.
If Hecker doesn't appeal the ruling, or loses an appeal, it means the home would probably be sold to raise money to pay off the $767 million his owes to creditors.
U.S. Bankruptcy Court Judge Robert Kressel in Minneapolis ruled on the matter Friday.
The house is more than 11,400 square feet and is valued at between $3.9 million and $8.9 million. It's part of a three-parcel estate that includes two guest houses, a garage and three docks with parking for ten boats.
Hecker had listed the house as his residence when he filed for bankruptcy June 4, but his largest creditor objected, partly because Hecker hadn't lived there long enough.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
