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Chinese investors seek forced bankruptcy of North Texas developments
Chinese investors who agreed to provide millions of dollars in funding for a series of North Texas land development deals are moving to put the projects in bankruptcy.
The forced bankruptcy attempts involve suburban land developments in several locations.
The developers of the projects say the Chapter 7 filings have no merit and are part of long-running legal disputes.
The development projects — including WALL017 LLC, WALL012 LLC, WALL016 LLC, WALL009 LLC, WALL010 LLC and WALL011 LLC — were launched by companies organized by Dallas-based JMJ Development.
Read more: https://www.dallasnews.com/business/real-estate/2020/04/17/chinese-investors-seek-forced-bankruptcy-of-north-texas-developments/