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B-Sens part owners lose property at auction

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Last May Fox 40 reported on a defaulted loan on assets totaling around $16 million by Tom Bolles and Tim Smith, part owners of the Binghamton Senators. Bolles and Smith own nine properties in Susquehanna County, Pennsylvania, four of which were up for big at a sheriff's auction Tuesday. The land was purchased by WM Capital Partners XXXIX LLC, the company that executed on the defaulted loan last year.

"My client took the properties back at the sale and we will eventually get a sheriff's deed to the property to become the new owner subject to whatever liens or prior liens of record that exist on those four parcels," said Scott Shectman, attorney for WM Capital.

Shectman declined comment on what if any affect the sale would have on Bolles' and Smith's ownership of the team.

Tom Mitchell, B-Sens Vice-President of Operations and minority owner, declined comment as well. In previous conversations, Mitchell, who wished not to comment on camera, said that any owner's outside financial troubles will have no impact on the hockey team. He added that the AHL Constitution does not allow for teams to be used as collateral for other business operations. As of last May, Mitchell had no indication of anyone wanting to sell their stake in the team, and no comment has been made to the contrary at this time.