Chimene Van Gundy — the newest ‘King out-of Mobile Home’ — has gone broke during the San Antonio

Chimene Van Gundy, a different Braunfels businesswoman who may have recognized and then make millions by buying and you will offering cellular house, submitted to possess A bankruptcy proceeding liquidation Wednesday. The latest filing came eight weeks just after a judge appointed a radio over their providers and personal earnings.

The latest Braunfels-created An excellent A home Choices Inc. borrowed funds from traders to purchase and sell cellular homes. Certain investors allege they haven’t yet been repaid the main and you can attract on the financing.

Chimene Van Gundy, another Braunfels entrepreneur having boasted from the making hundreds of thousands from buying and selling cellular land, moved broke.

This woman is regarded herself since the “King from Mobile Belongings” and the “brand new Mobile Family Billionaire,” to find, fixing and selling more than 600 mobile property in the 17 states. She also has told you she possess all those cellular-domestic areas.

In recent months, yet not, Van Gundy plus one off their companies were struck having several legal actions from the traders just who allege this woman is already been functioning a fake mobile-domestic investment scheme.

Van Gundy filed to own A bankruptcy proceeding liquidation Wednesday in U.S. Case of bankruptcy Court into the San Antonio, checklist less than $fifty,100 in property and you may debts from the list of $100,one hundred thousand so you can $five hundred,100.

Buyers state she reneged for the promises to pay them straight back dominating and notice towards currency it loaned their business to order mobile house. New Share-Reports chronicled Van Gundy’s judge problems from inside the a blog post one seemed on the internet merely era just before her bankruptcy filing.

Van Gundy filed having bankruptcy proceeding just eight days following California plaintiffs confident Judge Dib Waldrip so you’re able to designate a receiver to take more than the woman company, Outstanding A house Choice Inc. (ORES), and her private funds.

David Jed Williams and Clayton Matheson, San Antonio attorneys to the plaintiffs, argued one to assets were in danger of becoming forgotten as opposed to a good receiver providing handle.

While in the an April 19 reading, ORES’s surgery director Meagan Dockens affirmed she don’t understand the spot where the providers maintained the bank account and this didn’t come with latest monetary details

“That which you You will find read is like new arrow happens to be which have fluorescent lights” to have appointing a radio over ORES and Van Gundy, Waldrip told you immediately following Dockens’ testimony.

Dr. Andrew Wong regarding Neuromuscular & EMG Experts of Tx told you when you look at the an April fourteen letter filed into the court you to definitely right down to the woman injuries, Van Gundy enjoys “high deficits” for the memory, interest and focus.

Van Gundy are “emotionally struggling to giving legal testimony,” said Wong, even though he extra she been able to continue performing complete-date. The girl attorney advised this new judge Van Gundy risked having an enthusiastic epileptic seizure when the she affirmed.

This lady bankruptcy proceeding processing gave no info on the girl property, obligations otherwise money. The petition told you she’s doing forty-two financial institutions.

This is the second go out Van Gundy have recorded to possess bankruptcy proceeding. From inside the 1997, she and her partner during the time filed a section 13 reorganization into the Georgia.

Less than a part seven liquidation, a good debtor’s assets might be sold toward benefit of financial institutions. Case of bankruptcy filings basically placed on keep one pending legal actions against a beneficial borrower.

Four anyone as well as 2 businesses situated in Ca claim inside their suit inside Comal Condition area court one Van Gundy could have been functioning a Ponzi system – looking to pay back investors having the fresh finance from other “unsuspecting anyone

Michael Morris, another Braunfels lawyer that has been representing Van Gundy and ORES inside the litigation, submitted court papers Wednesday to withdraw because their the advice.

Morris indicated the fresh new appeal out of Van Gundy and you will ORES “may prove bad” into the receiver’s appointment, very their continued symbol away from each other “would https://www.guaranteedinstallmentloans.com/payday-loans-al be unethical.”