Bankruptcy official promises deep dive into Tri-Cities home builder’s business

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Jeff Losey, the executive director of the Tri-Cities Home Builders Association, recently told the Tri-Cities Area Journal of Business that the region has an opportunity to exceed 2017’s numbers.

Bankruptcy official promises deep dive into Tri-Cities home builder’s business Tri-City Herald. Solferino Homes, a Parade of Homes Tri-Cities home builder, appeared in U.S. Bankruptcy Court in Richland. The luxury home builder filed for Chapter 7.

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Solferino Homes, a Parade of Homes Tri-Cities home builder, appeared in U.S. Bankruptcy Court in Richland. The luxury home builder filed for Chapter 7 protection from creditors and contractors.

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Bankruptcies are filed under the following chapter headings: Chapter 7 – Straight Bankruptcy: debtor gives up non-exempt property and debt is charged. Chapter 11 – Allows companies and individuals to restructure debts to repay them. Chapter 12 – Allows family farmers to restructure finances to avoid liquidation for foreclosure.

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During bankruptcy proceedings, all assets – bar the family home – are collated and put under the control of a court-appointed bankruptcy official. This means that. the bank would attempt to force.

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Homebuilders face growing risk of bankruptcy. The collapse of the subprime-mortgage market may push some big U.S. homebuilders toward Chapter 11 beginning next year, according to bankruptcy.

Nine months after filing for bankruptcy, local real estate developer Jerry Trooien’s reorganization plan has reportedly been approved, setting him up to exit bankruptcy protection.

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