houstonmacbro Posted November 24, 2009 Share Posted November 24, 2009 Saw this just now on Click2Houston.com. http://www.click2houston.com/video/21706632/index.htmlSeems like Royce Homebuilders left folks in a lurch. Not unlike other real estate developers that got caught upside down. Link to comment Share on other sites More sharing options...
sevfiv Posted November 24, 2009 Share Posted November 24, 2009 Yuck...I can't find any corporation information on WG Builders but the web site is registered to Jeremy Liardon who was Royce's CIO.Here is Vestalia's information:VESTALIA, LLC1000 MAIN ST FL 36HOUSTON, TX 77002-6336Registered Agent: JOHN M RANSOM1000 MAIN STREET, 36TH FLOORHOUSTON, TX 77002MANAGER: JOHN HOPKINS SPEER16427 TELGE ROADCYPRESS , TX 77429 Link to comment Share on other sites More sharing options...
sevfiv Posted November 24, 2009 Share Posted November 24, 2009 Oh, and Speer's house for sale ($9.8 million):http://search.har.com/engine/16427-Telge-Rd-Cypress-TX-77429_HAR970477.htm Link to comment Share on other sites More sharing options...
houstonmacbro Posted November 24, 2009 Author Share Posted November 24, 2009 Oh, and Speer's house for sale ($9.8 million):http://search.har.co...9_HAR970477.htmLooks like a pretty nice pad. But if they have gone bankrupt and then opened in a new name ... that is just bogus.And illegal no? If not, it should be! Link to comment Share on other sites More sharing options...
TheNiche Posted November 24, 2009 Share Posted November 24, 2009 Looks like a pretty nice pad. But if they have gone bankrupt and then opened in a new name ... that is just bogus.And illegal no? If not, it should be!It's not illegal at all. The CEO built and ran that company for many productive years and earned a salary. The money he's earned in the past is his, not his company's. ...that is, UNLESS he's pledged personal assets as collateral in the business. Otherwise, they're his and his alone. Also, UNLESS he's charged and convicted with some kind of criminal negligence committed against shareholders (which would seem unlikely) then he's just treated as a guy who lost his job. Link to comment Share on other sites More sharing options...
sevfiv Posted November 25, 2009 Share Posted November 25, 2009 I almost forgot I took a stroll through Westwood Gardens a few months ago...it was depressing:http://arch-ive.org/archive/westwood-gardens/ Link to comment Share on other sites More sharing options...
houston10 Posted March 14, 2010 Share Posted March 14, 2010 yeah we have been seeing more developers going belly up. Its not as bad as florida. Apparently there are a ton of 100 units condos with only 10 owners and a developer that is bankrupt which is pretty much a mess for the few people that bought. Link to comment Share on other sites More sharing options...
HoustonMidtown Posted July 20, 2010 Share Posted July 20, 2010 I have seen this with several Houston builders, especially the smaller ones in the area.RobertReuther Homes did the same thing with the condo project on Lovett.... Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.