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.
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