Current news for this company:

STH 6,8,10,11,13 Inc. - Arizona Land Bank




Comment on this article | Subscribe by email!

stories: reports that another land bank has filed for Chapter 11 bankruptcy protection. The bankrupt land bank have been named by lawyers — "STH 6,8,10,11,13 Inc."

"STH", for short, was created in 2005 by Elite Homes Inc. and has "unpaid debts totaling about $10.8 million."

Though only a blip of an implosion, we wonder what is going on behind the scenes in Arizona, and in particular, with Elite Homes Inc. If you hear anything, please let us know!

permalink to this record | forum thread

Comments: Be the first to add a comment

add a comment | go to forum thread

Important: This company is on our list of builder operations that have "imploded" (see also ailing lenders). This is a somewhat subjective call, and does not necessarily mean total shutdown or bankruptcy. It can also mean steep and rapid declines in enterprise value; or abnormal "bail-out" by corporate parents or peers in order to continue to operate. The builders may be residential or commercial.