A Milwaukee-area commercial developer recently filed for Chapter 7 personal bankruptcy. The filing is one of several recent filings from real estate developers in southeastern Wisconsin over the past few years.
The developer’s Chapter 7 filing lists $46 million in debt and $3.2 million in assets. Sources say the commercial real estate developer is responsible for about $100 million worth of projects in Wisconsin including developing the Shoppes of Wyndham Village in Franklin.
The majority of the liabilities listed in the bankruptcy filing stem from guarantees on real estate development loans. Under Chapter 7 bankruptcy, individuals are able to eliminate certain unsecured debts and avoid liquidating assets.
To learn more about filing for Chapter 7 bankruptcy protection, contact the Milwaukee Chapter 7 bankruptcy lawyers of DeLadurantey Law Office, LLC by calling 414-377-0518 today.