Chimene Van Gundy, yet another Braunfels businesswoman who has promoted and also make hundreds of thousands by buying and you will selling mobile belongings, filed getting Chapter 7 liquidation Wednesday. The fresh new submitting showed up eight days once a judge designated a radio more the lady providers and personal finances.
Brand new Braunfels-oriented An excellent A property Options Inc. lent funds from buyers to get and sell mobile land. Some traders claim they have not become reduced the principal and notice to their fund.
Chimene Van Gundy, an alternative Braunfels business owner who has boasted on and also make hundreds of thousands away from investing mobile belongings, moved broke.
She’s known herself because the “Queen away from Cellular Land” and the “new Mobile House Millionaire,” to buy, fixing and you can selling over 600 mobile homes within the 17 states. She is served by said she possesses all those cellular-family parks.
Recently, but not, Van Gundy and another away from this lady organizations was in fact strike with numerous litigation by the dealers whom claim she actually is become doing work a fake mobile-domestic financing plan.
Van Gundy filed to have Chapter 7 liquidation Wednesday inside Recommended Reading You.S. Personal bankruptcy Judge within the San Antonio, checklist below $50,000 during the property and you will expenses regarding the variety of $a hundred,000 to $five hundred,000.
Buyers say she reneged on the intends to pay them right back principal and you may desire towards the money it loaned the woman organization to get cellular house. New Display-News chronicled Van Gundy’s judge difficulties inside a blog post that looked online only instances prior to the girl bankruptcy processing.
Van Gundy submitted for bankruptcy simply eight months pursuing the Ca plaintiffs pretty sure Courtroom Dib Waldrip in order to designate a radio when deciding to take more her team, An excellent A residential property Selection Inc. (ORES), and her personal cash.
David Jed Williams and Clayton Matheson, San Antonio attorneys into the plaintiffs, debated you to definitely assets was at risk for getting destroyed instead of a great recipient getting manage.
While in the a keen April 19 reading, ORES’s operations manager Meagan Dockens testified she failed to understand where business maintained the bank account and this had no most recent monetary info
“What you I’ve heard feels as though new arrow is becoming having neon lights” to have appointing a receiver more ORES and you can Van Gundy, Waldrip said once Dockens’ testimony.
Dr. Andrew Wong regarding Neuromuscular & EMG Professionals off Colorado told you in the an enthusiastic April fourteen letter recorded towards the judge you to down to this lady wounds, Van Gundy has “significant deficits” for the memories, interest and concentration.
Van Gundy is “psychologically struggling to giving legal testimony,” told you Wong, although the guy added she was able to remain working full-day. The woman attorney informed this new courtroom Van Gundy risked that have a keen epileptic seizure when the she testified.
Their case of bankruptcy processing offered no home elevators this lady property, debts otherwise earnings. The fresh new petition said she’s to 44 creditors.
It will be the 2nd time Van Gundy has submitted to have case of bankruptcy. Within the 1997, she and her husband during the time submitted a part thirteen reorganization from inside the Georgia.
Not as much as a chapter 7 liquidation, a debtor’s possessions are going to be offered for the benefit of loan providers. Bankruptcy filings fundamentally put-on hold one pending legal actions against a beneficial debtor.
Five some one as well as 2 people situated in Ca allege within their suit inside Comal County district judge you to Van Gundy might have been functioning a great Ponzi scheme – likely to repay traders which have the newest finance from other “unsuspecting some one
Michael Morris, a separate Braunfels attorney who has been representing Van Gundy and you can ORES for the lawsuits, submitted documents Wednesday so you’re able to withdraw as his or her the recommendations.
Morris shown this new appeal of Van Gundy and ORES “may confirm bad” on the receiver’s conference, so their continued sign from each other “might be dishonest.”