Eight companies owned by homebuilder John B. Kennelly filed Chapter 11 on Sept. 8 with more than $39 million in debt.
Their homes and home sites in Broward and Palm Beach counties were scheduled for foreclosure auction on Wednesday after BI Boca Boynton Portfolio, an affiliate of Miami-based BridgeInvest, won a $38 million foreclosure judgment against Kennelly. The bankruptcy court filings automatically stayed the foreclosure auction.
Boca Raton attorney Bradley Shraiberg, who represents Kennelly’s… …read more
From:: biz journal foreclosures