Friday, October 1, 2010

U.S. Fidelis Owners Settle with Creditors; Forfeit Cash, Mansions, Yacht, Motorcyles

Posted By on Fri, Oct 1, 2010 at 8:33 AM

The view from inside Darain Atkinson's Lake Saint Louis mansion.
  • The view from inside Darain Atkinson's Lake Saint Louis mansion.
The view from inside Darain Atkinson's Lake Saint Louis mansion.
The two brothers charged with using their auto-warranty business like a personal ATM -- withdrawing tens of thousands of dollars each week to fund their lavish lifestyles -- have reached a settlement with the creditors of their bankrupt company.

Under terms of the deal, Darain and Cory Atkinson will surrender $10.5 million in cash taken out of their Wentzville-based U.S. Fidelis over recent years. Also on the auction block as part of the settlement is Darain's $26.7 million home in Lake St. Louis (on the market now for $15 million), their 50-foot yacht "Isabelle" and 10 other boats, 11 automobiles and 14 motorcycles.

Today's Post-Dispatch has additional details on the settlement.  

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