Sixells investor Skidmore seeks Chapter 11 protection - Puget Sound Business Journal (Seattle):

showarticle-cultura.blogspot.com
Filed incomplete July 2 in the Easternb Districtof California, the bankruptcy documents list more than 50 assets of more than $1 million and liabilities of more than $10 million. Sixells was developingg high-end projects near Fair Oaks Boulevarc and off of Fultonj Boulevard that began going sideways as earlt as 2005 when they were hit with waves ofmechanicsa liens. Skidmore was an investor with nota developer, and as such had made personalk guarantees on loans for Sixells.
When the developer coulx not pay, the banks came after Skidmore filed suitsand counter-suits that claimed the banksx didn’t manage their loans and had kept givinb Sixells money even when projects were seriously out of Skidmore was sued last fall by several banks, includin g , and . Skidmorse founded and served as chairman for 11 yearof . He stepped down from that positiomnlast week, ahead of the bankruptcy filing. Greater Sacramento was not involved in the construction loan suits.