Real estate crash: Now it's personal

Corfman, Thomas A.; Baeb, Eddie
June 2010
Crain's Chicago Business;6/7/2010, Vol. 33 Issue 23, p1
The article reports on the rising number of real estate developers filing for bankruptcy in Chicago, Illinois, as creditors are now trying to recover their money through court cases. It is reported that, the developers are filing for Chapter 7 bankruptcy under which available assets are sold off and debts are released without a repayment plan. Developers filing for bankruptcy includes, Bruce Kaplan, the president of Northern Realty Group Ltd.


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