Rathbun Realty must pay $1 million to creditors

By Emily Bregel | Arizona Daily Star

Karen and John Lewis own a rental property in Solano Estates and are owed $16,000 by Tucson-based Rathbun Realty, the massive property-management company that declared bankruptcy last fall.

RathbunBut the Washington-state-based couple – clients of Rathbun for a decade – is not optimistic about recouping their losses, despite this week’s order from the U.S. Bankruptcy Court that Rathbun pay almost $1 million to 300 creditors.

“There’s a long list of creditors, and it’s unfortunate. But we, as the owners of the home, who have suffered the most, are kind of at the bottom of the list,” Karen Lewis said in a phone interview Friday. “I don’t think we’ll see a whole lot.”

Rathbun, which managed nearly 800 properties in Tucson before losing its license in February, was ordered this week to pay $950,000 to creditors after filing for Chapter 7 bankruptcy in September. A Chapter 7 filing – liquidation bankruptcy – allows the debtor to sell nonexempt property and transfer the proceeds to creditors.

Continued: 

Share this!

Additional Articles

News Categories

Get Our Twice Weekly Newsletter!

* indicates required

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

Court Rich, Rose Law group co-founder, Director of Renewable Energy & Utility Infrastructure, celebrates 20 years of sustainability in the legal field

By InBusiness Phoenix Court Rich, Co-Founder of Rose Law Group pc, is celebrating twenty years since joining the firm. Under Court’s guidance, Rose Law Group has become a leading firm for renewable energy and regulatory law in the Southwest. When Court joined in 2004, the firm had just two attorneys. Today, it boasts a

Read More »