Chimene Van Gundy, a unique Braunfels businesswoman having promoted and also make hundreds of thousands by purchasing and you can offering mobile house, filed to possess A bankruptcy proceeding liquidation Wednesday. The brand new filing came seven weeks once a judge designated a device more the woman company and private money.
The latest Braunfels-oriented A great A residential property Options Inc. borrowed money from traders to buy market cellular land. Particular dealers allege they haven’t yet started reduced the primary and appeal on the funds.
Chimene Van Gundy, a different sort of Braunfels entrepreneur who has got boasted about and then make many off exchanging cellular land, moved broke.
This woman is labeled by herself once the “Queen away from Cellular Land” while the “the new Mobile Household Billionaire,” to acquire, repairing and you will attempting to sell over 600 cellular homes when you look at the 17 says. She has also said she is the owner of those cellular-house parks.
Recently, but not, Van Gundy plus one out-of their enterprises was indeed hit having numerous litigation of the people who allege this woman is started doing work a fake mobile-house investment system.
Van Gundy recorded to have Chapter 7 liquidation Wednesday for the You.S. Personal bankruptcy Judge in San Antonio, checklist below $fifty,100 when you look at the possessions and you may bills regarding the selection of $one hundred,100 so you can $five hundred,one hundred thousand.
Dealers say she reneged on intends to pay them right back dominant and notice for the currency it loaned this lady business to invest in mobile homes. The fresh Share-News chronicled Van Gundy’s legal trouble inside a post one to looked on the internet only times just before her personal bankruptcy processing.
Van Gundy recorded getting personal bankruptcy only seven months adopting the Ca plaintiffs sure Court Dib Waldrip to hire a radio when planning on taking more the woman team, A fantastic A residential property Choice Inc. (ORES), along with her personal money.
David Jed Williams and Clayton Matheson, San Antonio solicitors with the plaintiffs, argued you to assets was in fact in danger of being destroyed versus a beneficial receiver delivering manage.
While in the an April 19 hearing, ORES’s functions director Meagan Dockens testified she didn’t discover where the business handled its bank accounts and that it had no newest monetary ideas
“Everything you I’ve heard feels as though the newest arrow happens to be which have fluorescent lights” having appointing a receiver over ORES and Van Gundy, Waldrip said once Dockens’ testimony.
Dr. Andrew Wong from Neuromuscular & EMG Gurus out-of Texas said inside a keen April fourteen page submitted with the legal you to definitely down to the girl wounds, Van Gundy has “high deficits” into the memories, appeal and concentration.
Van Gundy is “psychologically not able to giving legal testimony,” said Wong, even if he added she were able to keep performing complete-day. The lady attorney informed the fresh court Van Gundy risked with an epileptic seizure in the event that she testified.
The woman personal bankruptcy processing offered no all about her property, liabilities or earnings. The petition said she has as much as 49 creditors.
It will be the next go out Van Gundy have submitted to have case of bankruptcy. In the 1997, she and her husband at the time recorded a section 13 reorganization inside the Georgia.
Less than a chapter eight liquidation, good debtor’s assets is going to be ended up selling towards advantageous asset of creditors. Bankruptcy filings essentially wear keep any pending legal actions up against a beneficial borrower.
Four someone and two people based in California claim inside their suit from inside the Comal County section judge that Van Gundy could have been performing a great Ponzi system – intending to pay people having the fresh financing off their “unsuspecting people
Michael Morris, a different sort of Braunfels attorneys that has been representing Van Gundy and ORES from inside the litigation, submitted court documents Wednesday in order to withdraw as his or her counsel.
Morris payday loans MN indicated the newest passion out-of Van Gundy and you may ORES “can get confirm unfavorable” into receiver’s fulfilling, very his continued sign regarding one another “would be dishonest.”
