©23/08/2008
Photo: zandersaar.
The 2200 bikes, 2 pickups and the house on Queen West which the police had impounded from Igor Kenk are headed to the auction block. Kenk made a deal with the Crown to allow the Crown to keep the proceeds from the sale of the bikes and pickups, with Igor keeping the proceeds from the house after the Crown has taken its legal costs. If Kenk had not made a deal in the government's lawsuit, the Crown could have confiscated all his property under the Civil Remedies Act.
The 50-year-old bike repairman and self-described recycler is in the Toronto (Don) Jail, awaiting trial on almost 80 theft and drug charges. He's also in the midst of an assault trial.
Under the agreement, the province keeps the proceeds from the sale of the bikes, bike parts and his 1998 and 2001 pickup trucks.
But after his building is sold – less deductions for property management and sale costs, and after outstanding hydro, tax and other arrears are paid – the remaining money will be divided thus:
$50,000 for the Crown.
$65,000 for Legal Aid Ontario, to defray the costs of Kenk's criminal defence.
The remainder to be put in trust for Kenk by his lawyer.
Ninety per cent of Kenk's bicycles are worth $20 or less and the whole lot – being temporarily stored in a former high school – would fetch an estimated $50,580 at auction, the Crown says in a court document.
But after subtracting the cost of vendor commissions and of delivering the bikes from storage to the auction site, the net proceeds would be $11,870, the Crown says.
Are we soon to see a flood of used bikes on the market?