The Boston Yacht Haven marina in Boston's North End.The Boston Yacht Haven marina in Boston’s North End will be sold at auction Aug. 14, after a bankruptcy judge recently approved a deal between the marina’s lender, Northern Bank & Trust, and the marina’s court-appointed trustee.

Paul E. Saperstein Co. will serve as the property’s auctioneer. Saperstein was to have auctioned off the 4.75-acre site in April, but a last-minute bankruptcy filing by the marina’s owner, Yovette Mumford, derailed that event.

Mumford had engaged in a months-long bankruptcy battle with Northern Bank & Trust and with her Commercial Wharf neighbors, arguing she would be able to service her $10.1 million mortgage if she were allowed to redevelop the marina into condominiums or a boutique hotel. That battle ended in June, when, at Northern Bank & Trust’s request, Judge Frank J. Bailey ordered Mumford’s bankruptcy to be converted to Chapter 7 liquidation.

Mumford acquired the marina from Modern Continental in 2005, for $11.7 million. She ran into trouble with her $10.1 million mortgage this past winter, while serving a stretch in Framingham state prison on felony fraud charges.

August Auction Date Set For Troubled Boston Marina

by Banker & Tradesman time to read: 1 min
0