Sunday, October 08, 2006

General Unsecured Creditos

From the Star Ledger


"Dozens of Kara customers are in a similar fix. Officials of East Brunswick-based Kara, which filed for Chapter 11 bankruptcy reorganization late Thursday night, did not return calls for comment.

But Kara Homes' bankruptcy attorney David Bruck said late Fri day customer deposits would be re turned to homebuyers who decided to cancel their contracts.

"The company plans to reorganize by building out its homes under contract and perhaps selling off some properties in order to re turn to its core business at a more manageable level for these times," Bruck wrote in an e-mail."

Full article....


Anonymous Anonymous said...

And that idiot still thinks he's going to "come out of this" and be back as a builder. Soooooooooo clueless!!!!!!!!! I hope he likes his cell and his new orange jumpsuit.

Wednesday, October 11, 2006 9:50:00 PM  
Anonymous Anonymous said...

Hi all, I recently began my own anti-Kara blog which you may find at http://doomednj/ I'd love comments from anyone & everyone with any involvement with Kara Homes.

Friday, October 13, 2006 5:46:00 PM  
Anonymous Anonymous said...

sorry it's

Friday, October 13, 2006 5:50:00 PM  
Anonymous Anonymous said...

Core business, LOL! What exactly would that be? Anyone buying that drivel is on better drugs than I ever bought. Zudi is completely washed-up. What remains of his "business" is a cover to appear viable when it's time to appear in front of a judge. "Re-structuring" simply means, "hoping the court makes it possible to flog a few more dollars out of this dying mule of a company". Who could possibly be dumb enough to even consider buying anything from that fraud in the future? Ooops, forgot where I was, after all NJ is a place where suckers will drop hundreds of thousands to have a cooler zip-code to brag about to their vapid friends.

Friday, October 13, 2006 7:56:00 PM  

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