Tag Archives: Bankruptcy Protection

SEC Sues California Man Alleging Real Estate Fund Fraud

Posted on March 1, 2013 by sheri

California businessman Walter Ng, his business partner and his son were sued today by the U.S. Securities and Exchange Commission over a multimillion-dollar fraud on investors in their real estate funds. Ng and his partner raised more than $85 million … Continue reading →

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California company buys Ravella, Casino MonteLago for $46.8 million

Posted on December 4, 2012 by sheri

LAS VEGAS — A California real estate company has acquired the Ravella at Lake Las Vegas and adjacent Casino MonteLago for $46.8 million. Arcadia-based Kam Sang Co. bought the casino building and 349-room Ravella at Lake Las Vegas on Nov. … Continue reading →

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California company buys Ravella, Casino MonteLago for $46.8 million – Las Vegas Review

Posted on November 29, 2012 by sheri

A California real estate company has acquired the Ravella at Lake Las Vegas and adjacent Casino MonteLago for $46.8 million. Arcadia-based Kam Sang Co. acquired the casino building and 349-room Ravella at Lake Las Vegas on Nov. 21 from Village … Continue reading →

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Arrest Warrant Issued for California Man Accused in Myrtle Beach Area …

Posted on September 27, 2012 by sheri

(Source: David Wren The Sun News (Myrtle Beach, S.C.) (MCT) — Mike Wimberly – a California man whose alleged participation in a Myrtle Beach area mortgage fraud scheme helped drive a retired couple into bankruptcy, according to court records – … Continue reading →

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California May See More Bankruptcies, Chiang Says

Posted on September 20, 2012 by sheri

California may see more municipal bankruptcies than the three that have been filed since June, state Controller John Chiang said. Municipal budgets already strained by surging pension costs and declining real-estate tax revenue were stripped of more than $1 billion … Continue reading →

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Judge OKs Troy Plan

Posted on August 29, 2012 by sheri

(Source: Larry Rulison Times Union, Albany, N.Y. (MCT) — Real estate developer Sandy Horowitzhas finally convinced all of his lenders that selling his California property and several buildings in Troy will be the best way to pay them back and … Continue reading →

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California cities face credit downgrades

Posted on August 18, 2012 by sheri

CREDIT RATINGS Hard-hit cities face downgrades Cities in California, where three have declared bankruptcy in the past seven weeks, may get credit-rating downgrades from Moody’s Investors Service. The situation is worsened by the state’s boom-bust real-estate economy and “hands-off” policy … Continue reading →

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California Tribe’s Casino Files for Bankruptcy

Posted on July 6, 2012 by sheri

BY KATY STECH Southern California’s Santa Ysabel Resort and Casino filed for bankruptcy protection as it faces threats of foreclosure from the Yavapai Apache Nation, which had lent the casino’s owners more than $9 million. The casino—which is owned by … Continue reading →

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Stockton, Calif. could become biggest city to go bankrupt

Posted on February 29, 2012 by sheri

And now, officials say this river port city of 290,000 is on the brink of insolvency and could become the nation’s largest city to fall into Chapter 9 bankruptcy protection. The City Council was still debating the issue late Tuesday, … Continue reading →

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California Town Weighs Bankruptcy Protection

Posted on February 25, 2012 by sheri

BY MIKE CHERNEY AND KELLY NOLAN Stockton, Calif., one of the hardest-hit cities in the country in terms of real-estate foreclosures, is weighing whether to seek Chapter 9 bankruptcy protection from its creditors. “The city is in an immediate and … Continue reading →

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