October 2008
3 posts
“In a statement late Wednesday, Bardis called the bankruptcy filing a...”
– Sacramento Business, Housing Market News | Sacramento Bee
Builder faces a mountain of debt →
Renaissance Homes showed signs of financial trouble before filing for bankruptcy last Thursday. Unpaid contractors filed liens on Renaissance properties as home sales slowed, prompting the company to refinance debts, sell land and lure investors.
Builder faces a mountain of debt →
Renaissance Homes showed signs of financial trouble before filing for bankruptcy last Thursday. Unpaid contractors filed liens on Renaissance properties as home sales slowed, prompting the company to refinance debts, sell land and lure investors.
September 2008
13 posts
Northern Indiana Home Builder Announces Bankruptcy... →
Middlebury-based Patriot Homes, Inc. has filed for Chapter 11 bankruptcy protection. The Elkhart Truth reports the company is citing a downturn in the housing market and a tightening of the credit markets for its need to reorganize.
“We’ve tried everything that we can,” he said. “I definitely...”
– Builder Legacy Homes shuts down after 30 years - Grand Rapids, Michigan Business News - The Grand Rapids Press – MLive.com
Charlotte home builder files for Chapter 7 -... →
Charlotte home builder Classic Southern Homes Inc. has filed for Chapter 7 liquidation, according to a company filing in U.S. Bankruptcy Court here.
“What was amazing was how fast all of it started to crash,” Macauley said. “I...”
– Builder’s bankruptcy was ‘greatest learning experience’ - Atlanta Business Chronicle:
North Texas home builder Sheridan is latest to... →
Plano-based Sheridan Homes of Texas is among at least four North Texas home builders to file for bankruptcy protection this year as the housing industry continues to struggle nationwide.
Legend builds again - OregonLive.com →
Legend Homes, which faced a potential death sentence in bankruptcy court, has struck agreements with its lenders to build for another day.
Woodside Files For Chapter 11 - WSJ.com →
Woodside Group LLC, one of the nation’s biggest closely held home builders, sought bankruptcy-court protection Tuesday, the latest developer brought down by the collapse of the nation’s housing market. The filing, made in U.S. Bankruptcy Court in Riverside, Calif., was expected after Woodside, the Utah-based parent of Woodside Homes Corp., reached a deal last month with lenders and...
“It’s a tragedy,” said Nancy Jakse, a resident who bought there in 2002 and moved...”
– Myers’ bankruptcy liability: $309M - Sacramento Business Journal:
Large Builder’s Spec Homes Foreclosed →
A Port Angeles home builder has many spec homes on the market, and it apparently has begun to catch up with him. Nine of his homes were foreclosed on September 26th, the result of two financial institutions foreclosing on their lines of credit.
Dream project became star builder's nightmare -... →
Stripped of his beloved Winchester Country Club housing development and facing the potential seizure of numerous personal assets, Myers filed for Chapter 7 personal bankruptcy protection last month. It marks a devastating chapter in a life spent conquering huge obstacles.
Boca Raton-based home builder goes under after 45... →
After nearly half a century of building Florida neighborhoods, Oriole Homes Corp. finally met an economic downturn it couldn’t survive.
Builder says it will continue work during... →
Woodside Homes will continue building houses and paying employees as it works through a bankruptcy reorganization initiated by the company’s creditors, a spokeswoman for the builder said Friday.
Buyers, investors left in lurch as builder fails |... →
At the peak of his success, developer Michael F. Teufel had acclaimed projects all over Tucson, earning praise for innovative designs and community accolades for business growth. Then things went bad.
August 2008
3 posts
Meridian homebuilder's bankruptcy may be a... →
But the effect of Walker’s bankruptcy - with more than 800 creditors and about $69 million in liabilities - extends far beyond Eagle. It touches both large corporations and tiny one-man operations. And Idaho bankruptcy trustees and attorneys say more homebuilders face the same fate, and Crestwood’s troubles should be a cautionary tale for consumers and business people alike.
Scottsdale homebuilder files bankruptcy →
Charlevoix Homes, which has restructured as Copperleaf Communities, is trying to salvage its stalled communities, find new lenders and pay off investors, said Keith Hendricks, an attorney representing company founder Michael Roberts.
Bankruptcy for Johnson turning into liquidation →
The company lost a battle Wednesday in court when it failed to get judicial approval to hire a real estate broker with strong family ties to M.W. Johnson Construction.