Developer Malone declares bankruptcy

Developer Malone declares bankruptcy

There are 2 comments on the Kansas.com story from May 10, 2010, titled Developer Malone declares bankruptcy. In it, Kansas.com reports that:

Wichita developer and builder Tim Malone declared Chapter 7 liquidation bankruptcy Monday, citing liabilities of $7.5 million and assets of $1.2 million in a 179-page filing.

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nanag

Junction City, KS

#1 May 11, 2010
I read the story from The Wichita Eagle, which housing projects from JC was he involved in?
Guy

Olathe, KS

#2 May 12, 2010
He had projects around the radio station west of 77 highway and further west on Liberty Hall Rd. Junk builder, typical of some of the builders here early in the over-expansion. No oversight by the city because of the overloaded inspection department and the city manager pushing it all along. The last few homes he was working on are not livable and were uninsulated. The bank is trying to sell his lots. Too much in specials and taxes. About $150.00 a month in taxes and specials just for the empty lots each. Put a home on them and take that number times four, then pay on the house. He was from Wichita and flipped many homes affected by the flood they had there in the early 90's. He made too much money and helped drive up assesments of land by paying way too much. The sandy lots aren't even worth half of what the bank is asking. Thanks Malone, you idiot.

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