Chimene Van Gundy — the newest ‘King away from Cellular Belongings’ — went bankrupt from inside the San Antonio

Chimene Van Gundy — the newest ‘King away from Cellular Belongings’ — went bankrupt from inside the San Antonio

Chimene Van Gundy, a unique Braunfels businesswoman who’s touted and work out hundreds of thousands by buying and offering mobile home, registered having A bankruptcy proceeding liquidation Wednesday. The newest submitting emerged eight months just after a legal appointed a receiver more the girl business and private finances.

This new Braunfels-founded An excellent A home Solutions Inc. lent money from traders to find market cellular land. Specific dealers claim they have not become paid off the primary and you can notice on the financing.

Chimene Van Gundy, an alternate Braunfels business owner who may have boasted regarding the and then make hundreds of thousands of selling and buying mobile residential property, moved bankrupt.

She actually is referred to herself once the “King out of Cellular Property” plus the “the brand new Cellular Domestic Billionaire,” to get, restoring and you will promoting more 600 cellular land inside 17 claims. She has said she is the owner of all those cellular-domestic areas.

Lately, although not, Van Gundy plus one from this lady organizations had been strike that have multiple lawsuits by the traders who claim this woman is become functioning a fraudulent mobile-home financing program.

Van Gundy registered to possess Chapter 7 liquidation Wednesday from inside the You.S. Case of bankruptcy Courtroom in San Antonio, checklist lower than $50,one hundred thousand in possessions and debts on the a number of $a hundred,one hundred thousand so you can $500,000.

People state she reneged with the promises to outlay cash back prominent and desire into money they loaned the woman organization buying cellular home. The new Show-Reports chronicled Van Gundy’s legal problems within the an article that featured on line advance cash payday Vermont simply times ahead of her case of bankruptcy filing.

Van Gundy recorded having bankruptcy proceeding just eight months adopting the California plaintiffs confident Judge Dib Waldrip to help you designate a receiver to take over her company, A fantastic A property Choice Inc. (ORES), along with her private finances.

David Jed Williams and Clayton Matheson, San Antonio lawyers on plaintiffs, argued that assets was in fact in danger of getting missing versus good person providing handle.

Through the an enthusiastic April 19 reading, ORES’s functions manager Meagan Dockens affirmed she failed to see where in actuality the organization was able their bank account and that it didn’t come with current financial information

“What you I have heard feels like the newest arrow happens to be that have neon lights” getting appointing a device over ORES and you may Van Gundy, Waldrip said immediately after Dockens’ testimony.

Dr. Andrew Wong out of Neuromuscular & EMG Professionals out-of Tx told you for the an enthusiastic April 14 letter filed for the judge you to as a result of the lady wounds, Van Gundy enjoys “tall deficits” in thoughts, attract and amount.

Van Gundy is actually “psychologically struggling to giving judge testimony,” said Wong, even in the event the guy added she was able to continue doing work full-go out. The woman lawyer informed new legal Van Gundy risked having an epileptic seizure in the event that she affirmed.

The lady case of bankruptcy processing offered no details on the lady assets, debts or money. This new petition told you she’s got as much as 44 financial institutions.

Simple fact is that 2nd date Van Gundy has submitted for personal bankruptcy. Into the 1997, she and her partner at the time recorded a part thirteen reorganization from inside the Georgia.

Under a part eight liquidation, an effective debtor’s possessions should be sold to the advantage of financial institutions. Bankruptcy filings basically apply hold any pending lawsuits up against a beneficial borrower.

Five somebody as well as 2 organizations located in California allege within lawsuit in Comal County area judge you to definitely Van Gundy has been doing work an excellent Ponzi program – about to pay-off people which have this new loans off their “unsuspecting somebody

Michael Morris, an alternate Braunfels attorneys that has been symbolizing Van Gundy and ORES from inside the litigation, registered documents Wednesday to withdraw as their the recommendations.

Morris indicated the latest interests out-of Van Gundy and you will ORES “will get confirm bad” into receiver’s appointment, therefore his continued expression from one another “would be dishonest.”

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