Regular Swamplot readers will remember all the fun surrounding the collapse and shutdown of Royce Builders last year. What’s happened since? Chapter 7 bankruptcy! Plus now, says the Chronicle‘s Nancy Sarnoff:
Wisenbaker Builder Services, Suncoast Post Tension, Builders Mechanical and Luxury Baths by Arrow are collectively seeking to recover more than $1.1 million from the builder, according to the petition filed last month in U.S. Bankruptcy Court for the Southern District of Texas.
Thousands of home- owners could also have claims against the company.
Attorney David Jones, who is representing Royce in the bankruptcy, is compiling names of potential creditors that lists more than 12,000 people.
“Homeowners are the biggest portion,†said Jones, a partner with Porter & Hedges.
Oh, but there’s more! In a separate legal action, an educational charity that Royce owner John Speer used to promote his businesses and solicit contributions from customers is claiming that Royce failed to deliver funds raised on its behalf. A struggling charity that renamed itself the Royce Homes Foundation for Youth in 2003 — after Speer apparently promised to deliver several hundred thousand dollars a year in support — says Royce still owes it about $400K:
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