A home builder's bankruptcy is wrapping up, or is it down?
Wednesday, March 13, 2013 2:23 PM
Joel Goodman, whose Triton Group home building operation folded after the housing market collapsed, will pay less than a penny on the dollar under a payout plan recommended by the trustee in his bankruptcy case. Trustee Charles Smith determined that six lenders had legitimate claims to more than $8.6 million in unsecured debt. Of that, Goodman's bankruptcy estate will pay $7,231, according to the report filed March 7. Goodman filed for personal bankruptcy protection in August 2011, saying that 160 creditors had unsecured claims of nearly $10.8 million. Goodman had registered names for 14 home building and development companies that operated in Greater Des Moines and in other states.