Vy65
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About Vy65
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Cemex filed suit/for foreclosure against them last week too.
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Assuming the contractor gets a judgment authorizing foreclosure, it'll be sold at public auction. God knows who'd buy it considering there's been on-site construction. Could another developer come in and pick up where RATP left off? Are they going to have to scrape everything and put something else in? It'll be interesting to see if the baton gets passed and who ends up buying this assuming the foreclosure goes forward (which is not a given).
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Foreclosure (2.9 million) filed by the concrete contractor today.
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You'd think there would be a story here with the principal being indicted in Chicago. A lawsuit was filed in settled in Florida concerning this project. One of the limited partners alleged Luxe was misappropriating funds. I wonder if any of the crowdfunded investors have grumbled about that lawsuit or the project's overall lack of progress.
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Lawsuit is still active and a summary judgment hearing scheduled for September. Wouldn't imagine that'd be going on if the project were dead.
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I don't do criminal law, but my understanding is that bank fraud, like any form of fraud, requires intent. I skimmed through the indictment, but it sounds like misrepresentations were made regarding the lender's priority, secured status, repayment schedules, etc ... and not about overall return values. But like I said, I skimmed it. I'm curious to find out if any of the crowdfunded investors have made any complaints regarding the Houston property. I spent the morning searching but couldn't find anything on the internet. To clarify, the indictment is brought by the US Attorney concerning what a couple of Illinois banks were told regarding what they were told about the status of their loans. It's not about the return numbers. I'm sure the prospectus has all kinds of disclaimer language that would foreclose a civil, let alone criminal, complaint on that score.
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Luxe's President/CEO/Owner/Whatever is under a criminal indictment in Illinois for bank fraud. USA v. Krivoruchko, 1:19-cr-00080 I should add - that indictment relates to one of Luxe's condo projects in Chicago
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This is a really ignorant post. See above
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Such great people we have in our fair city of ours. Open-minded, slow to make assumptions, and modest. Just the best.
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- allen parkway
- dc partners
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What a enlightened, hospitable, and welcoming attitude. Guess we should build a wall around Houston to keep people from crawling out of their shitholes and coming here for work.
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- allen parkway
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Not a luxury everyone can afford unfortunately.
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Keep Houston Ugly
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I’m happy to take the Pepsi challenge on that one Lum
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Sorry to burst your bubble, but it’s absolutely second rate compared to UT. Being a part of a list of 115 schools doesn’t impress.
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Sorry to hurt your feelings bro. I won’t mock the overpriced, underwhelming tacos at the glorified mall food court. You clearly need this so go ahead and die on that hill.