Orlando Files Chapter 7 Bankruptcy with $22.8 Million in Debts

by San Antonio Attorney

Former big-time Orlando developer Cameron Kuhn declared bankruptcy under Chapter 7 of the Bankruptcy Code.

 

He claimed $22.8 million in debts to several corporations.

 

Kuhn purchased about 20 properties in the city by 2007, and then the real estate crisis and the Great Recession started.  A year after, Kuhn said he was broke.

 

In 2010, he had said he was starting a consulting business.

 

Kuhn was notably popular as one of the property developers who revamped the Church Street Station entertainment area, and emptied many blocks of land to construct the huge Plaza office and condominium complex along South Orange Avenue.

 

At the peak of his growth in 2007, he had employed 70 people and had begun acquiring property in New Orleans, Jacksonville and Atlanta.

 

In 2010, one of his companies filed for bankruptcy, claiming $10 million in assets and liabilities.

 

Kuhn’s debts include a $1 million judgment obtained by an investor against him, $19,500 in domestic support payments and $36,485 in taxes.

 

He also declared bankruptcy for First Loft Corporation, stating $120,000 in credit card debts.

 

Kuhn’s lawyer said he worked hard in dealing with his debts.

 

But in 2014 he faced a $23 million dollar judgment and he has not reached an agreement with the judgment creditor.  Finally, he decided to file a Chapter 7 bankruptcy to be able to start fresh again.

 

He lost control of the properties in Church Street to Tremont, a lender based in Boston, in a foreclosure.  Unlike Chapter 13 bankruptcy, Chapter 7 bankruptcy does not involve a debt repayment plan.  Instead, the debtor’s assets are liquidated and the proceeds of the assets are used to pay debts.

 

If you want to get rid of most of your debts and start over with a clean slate, talk to a Bankruptcy Attorney San Antonio about your options.

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