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Home » Latest News » Ex-builder files under Chapter 7

Ex-builder files under Chapter 7

Filing says $2.3 million owed mostly business debt

May 21, 2009
Jeanne Gustafson

A former home builder and entrepreneur in Greenacres has filed for Chapter 7 protection from creditors in U.S. Bankruptcy Court here, listing debts of almost $2.3 million.

In his filing, Victor Jay Grant says he operated a custom-home construction company called Rivercity Builders between 1999 and 2005.

Kevin O'Rourke, Grant's bankruptcy attorney, says nearly all of the debts identified in the bankruptcy filing are related to that business, which O'Rourke says failed because high international demand for construction materials at the time created a shortage, causing delays in Grant's construction jobs.

While operating the construction company, Grant also started a repossession and collection business called RCB Investigations, in 2000, and continues to operate that business, O'Rourke says. Grant owned a used-clothing store in Coeur d'Alene called Bullfrogs & Butterflies Used Clothing, but closed that business, O'Rourke says.

There are no secured claims listed in the filing, and the largest unsecured claim is by Builders Capital Mortgage, of Seattle, for $900,000.

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