Repos against Waterford Speedbowl

Posted on May 29, 2008
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Repos action is being taken against Waterford Speedbowl after a pause. Waterford Speedbowl is an oval shaped 3/8-mile paved track near Waterford, Connecticut. It runs with the sanction of NASCAR.

No details are available except for facts on the judicial website of the state. It appears that the persons who had helped to save the owners of Waterford Speedbowl from being listed for foreclosure last summer arenow taking their own foreclosure steps against the track owners. On 9^th May 2008 Rocco Arbitell and Peter Borelli filed a repo home suit in New London against the aforesaid Waterford Speedbowl owners. Ironically it was the same duo – Arbitell and Borelli who had helped with funds to save the track owners from Washington Mutual Bank foreclosing upon them. At the last minute the intervention of Arbitell and Borelli of Derby had staved off foreclosure auction that was due to be held within few hours. But that is history. The present is a grim reality of impending foreclosure spelling doom not only to the track owners but also to short track racing enthusiasts.

A group led by Eames in September 2000 purchased Speedbowl on 1080 Hartford Road. Since the end of the 2006 season, Eames relinquished operational control on lease to operator Jerry Robinson. Last summer Eames had been all smiles when Washington Mutual was stopped from proceeding with foreclosure. A new mortgage had been contracted with Arbitell and Borelli. This permitted the Superior Judge of Norwich to cancel the scheduled auction. It was a thrilling narrow victory with only hours to spare. Eames had waxed eloquent with relief. The duo had bailed his group out the situation as a personal favour to him and also because they themselves were racing fans.

Waterford Speedbowl has been entertaining enthusiasts to the best short-track automobile competition for nearly half a century. The oval has been in service without a break since it opened on 15^th April 1951.

Now the big question looms that will Waterford Speedbowl survive or not? How many lives does this cat have? Already the writing is on the wall with low car counts and still lower fan numbers. One begins to wonder whether the general economic slump arising from foreclosures has led to lessening of peoples interest in anything but their own survival of struggling with high mortgages and inflation; this in turn has led to the foreclosure of Waterford Speedbowl.

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