Madonia Bankruptcy Auction August 19 at Aqua Restaurant

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#2 Heron Pointe in Bay Creek backs to golf course with views of the Bay. Built as developer Dickie Foster’s personal home, Foster later sold it to the Madonia family, now bankrupt.

Cape Charles Wave

July 30, 2013

Two Bay Creek mansions along with additional houses and land belonging to the Madonia family will be sold at a bankruptcy auction August 19. The auction is at Aqua Restaurant, which coincidentally  was also the object of a bankruptcy auction last December.

Properties on the block include #2 Heron Pointe in Bay Creek South, formerly owned by Bay Creek developer Dickie Foster, who sold it to Batista and Evelyn Madonia.

Once considered the prime property in Bay Creek, the long-vacant house now suffers from overgrown shrubbery. It was recently assessed by Northampton County at $2,786,300.

The Madonia family, owners of East Coast Brokers and Packers, filed for bankruptcy in March. According to the Packer, an industry newsletter, the Madonias owe over $20 million to state and federal governments and private firms.

Many of the Madonia holdings were to be offered at a sealed bid auction July 5, but the bankruptcy judge reportedly decided to withhold some of the most significant properties for a series of live auctions.


Under the terms of the original sealed bid auction, prospective buyers had no chance to raise their offer. And even if their offer was the highest, there was no guarantee that it would be accepted by the bankruptcy court.

The August 19 live auction at Aqua promises to be much more interesting, with bidders competing against each other. The auction is not an absolute one, however, as the winning bids must still be approved by the bankruptcy court. That means that if the judge thinks someone “made a killing in real estate,” he might nullify the sale.

Bidders do not have to attend the auction; instead, they may bid online.

The other Bay Creek property at auction, known as “Magnolia Plantation,” is at 111 Creekside Lane. With a tax assessment of $1,654,000, the property has been listed for sale this year at $995,000, down from $1,495,000 last year.

Another Heron Pointe property owned by the Madonias and assessed at $1.5 million is not shown as part of the August 19 auction.

Other Madonia properties in the auction include the 14-acre Webster Canning Co. in Cheriton, as well as the site of a former clam processing plant in Oyster. Houses in Oyster, Painter, and Chincoteague are also for sale.

All homes will be open for inspection Saturday, August 3, from 2 to 4 p.m.

The auctioneer’s descriptive brochure may be read at

"Magnolia Plantation," 122

“Magnolia Plantation,” 111 Creekside Lane, backs to Old Plantation Creek.



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