We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Neumann Homes Reeling From Subprime Woes

Law360 (November 7, 2007, 12:00 AM EST) -- Bankrupt homebuilder Neumann Homes has racked up at least $235 million in debts, the company revealed in court papers filed earlier this week.

In documents filed with the U.S. Bankruptcy Court for the Northern District of Illinois, Neumann said it owes some $217.4 million to a group of lenders, including Bank of America NA; Cole Taylor Bank; Comerica Bank; First Midwest Bank; Guaranty Bank; IndyMac Bank FSB; RBC Centura Bank; and Residential Funding Company LLC.

Neumann also said that approximately $11.9 million is still owed to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.