Tuesday, October 18, 2011

Builder Zaring declares Chapter 11 bankruptcy - Minneapolis / St. Paul Business Journal:

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Zaring’s filing in U.S. Bankruptcy Couryt for the Southern District of Ohio in Cincinnati said he had estimateds assets ofbetween $10 million and $50 million, and debts in the same dollarr range. A list of unsecured creditors includexd a KeyBank claimof $2 million; National City $1.9 million; Fifth Third $268,500; and Anne Zaring, $250,000. The filin did not include a schedule of assets and a statement ofmonthly income, a statement of financialk affairs and other documents requirec under federal bankruptcy law. Zaring has 15 days from the date of his June 26 Chapted 11 petition to file those He is represented by lawyer Richard Nelsonat Todd, Kite & Stanford LLC.
The bankruptcy filing follows the filingv of at least five claims and judgmentsz by various creditors against Zarinbg in Hamilton County courtin June. They resulted from lawsuits filefd against Zaring andrelated entities. They includede the following: • Huntington National Bank vs. Scott Estridge Homews LLC and Allen G. Zaring III, Case #0906248; judgmentt June 29 for $3.4 million. • Huntingtoh National Bank vs. Great Midwest Development LLC andAllen G. Zarinv III, Case #0906247; judgment June 29 for $5.3 • Huntington National Bank vs. Clayton LLC, Allebn G. Zaring III and Andrew C. Case #0906246; judgment June 29 for • National City Bank s/b/m/t Providenft Bank vs.
Allen G. Zaring III, Case #0906008, judgmen June 18 for $1.9 million. KeyBank National Association vs. Allen G. Zaring III, Case judgment June 8 for $2 million. Zaring was one of the Cincinnatik area’s most well-known home builders before selling his Zarinb Homes toDrees Co. in 2001. Several family memberes are also involved in building and developmeng firms inthe area.

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