Auction Of Rare Autos Once Owned By Elkhart Businessman Nets $44M

Nov 1, 2020

ELKHART, Ind. (AP) — An auction of hundreds of rare and antique automobiles that once belonged to a northern Indiana businessman has generated more than $44 million in proceeds in a bankruptcy case. Last weekend's auction of the 240 autos as well as memorabilia once owned by former Interlogic Outsourcing Inc. CEO Najeeb Khan drew more than 2,500 bidders worldwide. RM Sotheby's said the auction grossed just under $44.4 million. A bankruptcy court had ordered the collection auctioned off to help repay more than $100 million Khan owes to KeyBank National Association and more 120 other companies and individuals.