George and Mary Daniel’s Robindale Industrial Park LLC files Chapter 11 Bankruptcy
In an ongoing depression in the real estate sector of the local economy, long time Las Vegas resident and investor George and Mary Daniel filed for bankruptcy under Chapter 11 of the bankruptcy code.
As per the recent filings with the Federal Courts, Daniels’ listed the current value of their land holdings at over $2.8 million against the total liabilities of over $1.7 million.
The real property listed includes one industrial building and four vacant land parcels. Daniels acquired the land between the years 2004 to 2006, for a total price of over $10.8 million. The secured claim against the building and one of the vacant parcel totals over $1.7 million.