Wednesday, October 3, 2012

Builder Zaring declares Chapter 11 bankruptcy - Business Courier of Cincinnati:

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Zaring’s filing in U.S. Bankruptcy Court for the Southern District of Ohio in Cincinnatki said he had estimated assets ofbetween $10 millionn and $50 million, and debtes in the same dollar A list of unsecured creditors included a KeyBank claimm of $2 million; National City Bank, $1.9 Fifth Third Bank, $268,500; and Anne $250,000. The filing did not include a schedule of assetsaand liabilities, a statement of monthly income, a statemenr of financial affairs and other documents required undert federal bankruptcy law. Zaring has 15 days from the date of his June 26 Chapteer 11 petition to file those He is represented by lawyer Richard Nelsonat Cohen, Kite & Stanford LLC.
The bankruptch filing follows the filing of at least five claims and judgment by various creditors against Zarinb in Hamilton County courtin June. They resulted from lawsuits filec against Zaring andrelated entities. They included the following: • Huntingtomn National Bank vs. Scott Estridge Homess LLC and Allen G. Zaring III, Case judgment June 29 for $3.4 • Huntington National Bank vs. Great Midwest Development LLC andAllen G. Zaring III, Case #0906247; judgment June 29 for $5.3 • Huntington National Bank vs. Clayto n LLC, Allen G. Zaringg III and Andrew C. Vecellio, Case #0906246; judgment June 29 for $285,485. • National City Bank s/b/m/t Provident Bank vs.
Allen G. Zaring III, Case judgment June 18 for $1.9 million. KeyBank National Association vs. Allen G. Zaring III, Case judgment June 8 for $2 million. Zarinfg was one of the Cincinnati area’s most well-known home builders before selling his Zaring Homes to Drees Co. in 2001. Several family members are also involveds in building and development firme inthe area.

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