Chimene Van Gundy, a different Braunfels businesswoman that promoted to make many by buying and you can promoting mobile homes, submitted to possess A bankruptcy proceeding liquidation Wednesday. The brand new filing came 7 months after a judge appointed a receiver over this lady providers and personal finances.
The fresh Braunfels-dependent An excellent Real estate Options Inc. borrowed funds from dealers to buy and sell cellular property. Some dealers allege they have not started repaid the primary and attention to their loans.
Chimene Van Gundy, another Braunfels entrepreneur having boasted in the and also make many regarding exchanging mobile land, moved broke.
She is labeled by herself since “Queen out of Mobile Residential property” plus the “the latest Mobile Family Billionaire,” to find, restoring and you may promoting more 600 mobile house for the 17 says. She also offers said she is the owner of dozens of mobile-domestic parks.
Lately, yet not, Van Gundy and one from her people was basically struck having numerous legal actions of the dealers just who claim the woman is become operating a deceptive mobile-family financing design.
Van Gundy registered to own A bankruptcy proceeding liquidation Wednesday inside the You.S. Case of bankruptcy Courtroom within the San Antonio, number lower than $fifty,000 for the possessions and you can bills on directory of $one hundred,100000 to help you $five hundred,100.
Buyers state she reneged into promises to outlay cash back dominating and you will appeal to your money it loaned the woman providers to invest in mobile land. The fresh new Display-News chronicled Van Gundy’s judge troubles inside the a post one to featured on the web only occasions prior to the girl personal bankruptcy submitting.
Van Gundy filed having case of bankruptcy just seven months after the California plaintiffs convinced Judge Dib Waldrip to designate a device to take over the lady business, An excellent A home Selection Inc. (ORES), along with her private earnings.
David Jed Williams and you may Clayton Matheson, San Antonio solicitors to the plaintiffs, debated one to property were in danger of are missing in place of a recipient getting handle.
Throughout an April 19 hearing, ORES’s operations movie director Meagan Dockens affirmed she didn’t discover the spot where the organization managed its bank account and this had no most recent economic info
“Everything you You will find heard feels like this new arrow grew to become having neon lights” to have appointing a receiver over ORES and you will Van Gundy, Waldrip said immediately following Dockens’ testimony.
Dr. Andrew Wong off Neuromuscular & EMG Gurus of Tx said into the an April 14 page submitted towards courtroom you to definitely right down to their injuries, Van Gundy has actually “high deficits” when you look at the recollections, focus and you will focus.
Van Gundy are “emotionally struggling to giving courtroom testimony,” said Wong, though he added she was able to keep doing work full-day. This lady attorneys advised the fresh judge Van Gundy risked which have a keen epileptic seizure if she testified.
The woman personal bankruptcy filing offered no all about the girl property, debts or income. Brand new petition told you this lady has around 49 financial institutions.
It will be the next day Van Gundy enjoys recorded getting bankruptcy proceeding. During the 1997, she and her husband at the time recorded a part thirteen reorganization within the Georgia.
Less than a part eight liquidation, an effective debtor’s assets might be offered towards advantageous asset of loan providers. Bankruptcy proceeding filings generally wear keep any pending legal actions facing a beneficial borrower.
Four people and two enterprises located in California allege within lawsuit in Comal Condition region courtroom one Van Gundy could have been performing a good Ponzi design – intending to pay off investors which have the fresh money from other “naive some body
Michael Morris, a separate Braunfels attorney that has been representing Van Gundy and you may ORES when you look at the legal actions, filed documents Wednesday in order to withdraw as their the recommendations.
Morris indicated the new passions from Van Gundy and ORES “will get show bad” to your receiver’s meeting, therefore their proceeded sign regarding each other “might possibly be unethical.”