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Bankruptcy in Las Vegas: Developer Lists Over $500 Million in Debt

March 25, 2016

 

Las Vegas developer Bill Plise filed his first set of detailed financial disclosures in Bankruptcy Court, listing that he has debt of $506.5 million and his assets only total $4,738. His bankruptcy filing is for Chapter 7 personal bankruptcy in Las Vegas, and he filed for bankruptcy on April 23.

 

Plise developed projects including the Centennial Corporate Center and the Rainbow Sunset Pavilion mixed-used complex.  However, his City Crossing project in Henderson failed and filed for bankruptcy in June 2008.  His current bankruptcy filing is personal and not a business filing for bankruptcy in Las Vegas.

 

Most of Plise’s creditors are banks he received loans from including: Community Bank of Nevada, Silver State Bank, First National Bank of Nevada, Bank of America, Wells Fargo Bank, U.S. Bank and more.

 

Although this filing for bankruptcy in Las Vegas is personal, a major portion of Plise’s debt comes from his business relations, including his personal guarantees on loans for the City Crossings project and other developments.

 

For more information about this bankruptcy in Las Vegas, click here.

 

Shumway Van & Hansen always offers free consultations and often times can schedule an appointment within 24 hours. For more information about filing bankruptcy please continue to utilize www.shumwayvan.com, call us at (801) 478-8080 or (702) 478-7770, or stop by either of our offices which are located at 8985 S. Eastern Ave, Suite 100, Las Vegas Nevada 89123 and 8 East Broadway, Suite 550, Salt Lake City, Utah 84111. We look forward to hearing from you soon.

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