The Real Deal Miami

Judge chides court-embattled Miami developer

Renzo Renzi lambasted for "abuse of the bankruptcy system"

June 19, 2013 01:00PM

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Gavel-new315-304A bankruptcy judge accused Miami developer Renzo Renzi of “abuse of the bankruptcy system” and prepared for Renzi to lose a condominium project site through a foreclosure auction, Daily Business Review reported.

Judge Laurel M. Isicoff on Friday granted a motion from Miami-based Crescent Heights Inc., which sought relief from an automatic stay invoked when Renzi’s Beacon Developer Partners LLC filed for Chapter 7 bankruptcy liquidation June 6, according to the Review.

The LLC declared bankruptcy the day before a scheduled foreclosure auction of Beacon’s small commercial parcel at 18 SE Eighth St. and three other properties owned by Renzi companies.

Renzi’s filings are “part of a scheme to delay, hinder or defraud creditors,” Isicoff wrote.

Renzi filed in a hand-written note for Chapter 7 personal bankruptcy in 2011, declaring debt of between $10 million and $50 million. The petition was rejected. [Daily Business Review]Emily Schmall

  • Do not jump the gun, and file for bankruptcy too early. Filing at the wrong time could leave you with more debt than you had before. It also means that you will not be able to file against those debts. All debt must be listed on your initial application for it to be included.

  • nicolo’

    è inutile che ti incazzi, si sa chi sei!

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