Rhodes’ land investment group files bankruptcy plan
By Hubble Ray Smith |
A land investment group managed by developer and farming operator Jim Rhodes has filed for bankruptcy in U.S. Bankruptcy Court in Las Vegas with an estimated $35 million to $37 million in principal assets of Mohave County land.
Attorneys for Avery Land Group, a Nevada limited liability company formerly doing business as Kingman Farms, filed a final disclosure statement June 6 in connection with the debtor’s second amended Chapter 11 bankruptcy reorganization plan.
The case has been assigned to Judge August Landis, with U.S. Trustee Edward McDonald appointed to oversee Avery’s business affairs.
An overview of the reorganization plan separates claims against Avery into 15 classes based on their level of priority and the legal nature of the claims.
