Vegas Real Estate Developer Lists Debts at $506.5 Million

In Las Vegas, Nevada, a well-known real estate developer has filed for Chapter 7 bankruptcy. According to news sources, B.P. told the Bankruptcy Court overseeing his case that he has over $506.5 million in debt. In comparison, he asserts that his assets total $4,738. After much financial hardship, B.P. filed his bankruptcy petition on April 23^rd. Full disclosures of his finances were made to the court earlier this week.

B.P. is infamous for developing major projects, including a $2 billion initiative in Henderson. However, amidst the recession, his development near Las Vegas Boulevard failed and led to a company bankruptcy filing in June 2008. Now, B.P. is pursuing consumer bankruptcy. With this being the case, the court and his creditors must look at B.P.'s personal financial situation versus his company's finances. Are you on the verge of filing for Chapter 7 because you are knee-deep in debt? If so, contact the Malaise Law Firm today to get immediate help and advice from an experienced San Antonio bankruptcy attorney from our team.