Chimene Van Gundy, a special Braunfels businesswoman who’s touted making millions by purchasing and you will selling mobile homes, filed to possess Chapter 7 liquidation Wednesday. The newest processing came seven months after a courtroom appointed a radio more their team and private profit.
The brand new Braunfels-founded An excellent A home Alternatives Inc. lent funds from traders to buy market mobile home. Particular traders claim they have not been paid off the main and you may desire to their loans.
Chimene Van Gundy, a new Braunfels entrepreneur who has boasted from the and also make millions regarding buying and selling cellular house, has gone bankrupt.
The woman is labeled herself given that “King out-of Cellular Homes” together with “the brand new Mobile Domestic Billionaire,” to find, repairing and you may selling over 600 cellular belongings within the 17 says. She also has told you she possess those cellular-household parks.
Recently, yet not, Van Gundy plus one from the lady businesses had been strike which have numerous litigation from the traders exactly who allege she is already been doing work a deceptive mobile-household financing design.
Van Gundy submitted to own Chapter 7 liquidation Wednesday within the You.S. Bankruptcy proceeding Courtroom inside San Antonio, list lower than $50,100 inside property payday loans Connecticut and you can costs on the listing of $one hundred,100000 in order to $five hundred,100.
People state she reneged on the promises to outlay cash straight back dominant and you can notice on the money it loaned their organization to invest in mobile belongings. The newest Share-Reports chronicled Van Gundy’s judge troubles when you look at the an article one to featured on the internet just days in advance of their bankruptcy filing.
Van Gundy submitted to have personal bankruptcy merely eight months following the California plaintiffs sure Legal Dib Waldrip so you can hire a radio when deciding to take over the girl team, Outstanding Real estate Choice Inc. (ORES), along with her private cash.
David Jed Williams and you can Clayton Matheson, San Antonio attorneys into the plaintiffs, argued one to possessions was in fact at risk for being missing in the place of a good receiver delivering manage.
Throughout the an April 19 reading, ORES’s procedures manager Meagan Dockens affirmed she don’t see where the company handled the bank account and that it didn’t come with most recent economic facts
“Everything I’ve read feels as though the fresh arrow is starting to become that have fluorescent lights” getting appointing a receiver over ORES and you may Van Gundy, Waldrip said immediately following Dockens’ testimony.
Dr. Andrew Wong out-of Neuromuscular & EMG Pros off Colorado said from inside the a keen April fourteen letter registered to your legal that down to her injuries, Van Gundy have “high deficits” inside recollections, desire and you can focus.
Van Gundy are “psychologically unable to providing courtroom testimony,” said Wong, in the event the guy additional she managed to remain performing complete-go out. This lady lawyer advised the fresh courtroom Van Gundy risked that have a keen epileptic seizure in the event the she testified.
The lady bankruptcy processing gave zero info on their property, debts otherwise earnings. Brand new petition told you she’s got as much as forty-two creditors.
Simple fact is that second time Van Gundy keeps filed to have bankruptcy. During the 1997, she along with her spouse at that time filed a part 13 reorganization inside Georgia.
Under a chapter seven liquidation, a debtor’s property can be sold into the advantage of creditors. Bankruptcy filings basically placed on keep one pending legal actions facing good debtor.
Four some body and two enterprises situated in California claim within their suit from inside the Comal County district judge one Van Gundy could have been operating an excellent Ponzi system – intending to pay traders which have this new financing off their “naive some one
Michael Morris, a unique Braunfels attorney who has been representing Van Gundy and ORES for the litigation, submitted court papers Wednesday so you’re able to withdraw as his or her the recommendations.
Morris indicated this new interests away from Van Gundy and you may ORES “could possibly get show unfavorable” with the receiver’s appointment, thus their continued representation from each other “was unethical.”