Posts tagged: Chapter 11
Coeur d'Alene realtor Greg Rowley gave a tour of the $10.5 million home on the shore of Lake Coeur d'Alene. (SR photo: Kathy Plonka)
After a successful career developing retirement communities, Denny Ryerson planned to kick back and enjoy his own retirement on a sandy shore of Lake Coeur d’Alene. He built his dream home on 2.2 acres on Mica Bay, a spread that includes an 11,000-square-foot main house, a caretaker’s house and a guest house above the garage. The main house has four bedrooms, each with its own laundry facilities, plus seven full- and half-baths, a rosewood office and a kitchen with both a wood-burning brick pizza oven and separate $45,000 gas range. Ryerson and his wife have hosted up to 250 people there. And then the economy crashed and Ryerson, like hundreds of thousands of others, crashed hard along with it. The Arizona developer filed for Chapter 11 bankruptcy protection last fall, listing debts of more than $14 million. Now one of Coeur d’Alene’s most expensive waterfront homes is at the center of a legal battle involving Ryerson; his former lender, Idaho Independent Bank; and a company that bought the notes on the home from that bank/Tom Sowa, SR. More here.
Question: Which home along the Lake Coeur d'Alene shoreline would you must like to spend a summer in?
Lee Enterprises, the owner of the Times-News in Twin Falls and 47 other daily newspapers, across the country announced that it is seeking Chapter 11 bankrupcy protection in an effort to refinance some of its $904.5 million in debt. The company said in a news release that it expects to complete restructuring in two months or less and that the process won’t affect its workers. “All our digital and print products will be published as usual and no employees will be impacted,” Carl Schmidt, Lee’s vice president, chief financial officer and treasurer, said in a company news release Dec. 2/Brad Iverson-Long, Idaho Business Review. More here.