A public auction of key properties owned by David Weyrich -- one of the most prominent businessmen in the county-- has been postponed from today until Wednesday, according to a Chicago Title foreclosure bid information phone recording. The reason for the delay was “at beneficiary’s request,” the recording said. The voice recording also warned that this information could change at any time.
It's the second time the auction has been postponed. It was originally supposed to take place last Friday.
Sources close to Weyrich say he is negotiating for more time to put together a buy-out of Aegon’s interest, although no one would go on the record and The Tribune could not otherwise confirm what negotiations, if any, are in progress. Attempts to reach Weyrich have been unsuccessful.
The Weyrich holdings at risk of being foreclosed upon include the Martin and Weyrich Winery with more than 250 acres of vineyards; Villa Toscana, the luxury bed-and- breakfast inn nestled in the Martin and Weyrich vineyards on Paso Robles' eastside; two tasting rooms; the York Mountain Winery and vineyards in Templeton; and the 280-acre Jack Ranch Vineyard in Edna Valley, according to notices of trustee sales filed with the county.
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The properties were put up as collateral for an estimated $20 million that Weyrich has borrowed from Transamerica Financial Life Insurance Co., a subsidiary of Netherlands-based Aegon, documents show.