Words: Ashley Rigg
Published: 7th of October 2009
US: Fractional developer files for bankruptcy
Fractional property developer, Lake Tahoe Development has filed for voluntarily chapter 11 protection in the United States Bankruptcy Court, in Sacramento, California.
The company built The Chateau at Heavenly Village in South Lake Tahoe, California as well as a range of commercial and residence projects which included fractional developments.
The developer had been desperate to find finance to complete a $420 million convention centre near Stateline in South Lake Tahoe and recently had a bond financing proposal rejected by the city council.
More on Fractional Life and Tahoe Daily Tribune .
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