Rusy Hyneman Moves Forward with Chapter 7

Known for his real estate development savvy, Rusy Hyneman has admitted financial defeat and filed for Chapter 7 bankruptcy this week.

The petition, which was filed at the U.S. Bankruptcy Court in Memphis, listed assets at $3.7 million and liabilities exceeding $69.3 million. The majority of Hyneman's assets are in his home, located at 9279 Forest Drive, which is valued at $2.9 million. In addition to the house Hyneman lists two Harley Davidson motorcycles, a Rolex watch and an IRA at FSC Securities Corp.

In addition to these assets the filing lists several unliquidated claims, such as the $4 million cross-claim against Michael Bourne, another local developer that is facing financial difficulties.

Do you own a small business that is failing?  Now is the time to contact our legal team to review your options with a San Antonio bankruptcy attorney who can provide you with advice and tell you more about your options.