Tuesday, December 1, 2009

Chris Evans files bankruptcy schedules. Owns $82 million in properties

See sidebar on right for a collection of all posts on Evans case.

Chris Evans filed a schedule of his assets, liabilities, and claims in U.S. Bankruptcy Court last week. Copy of schedule. It's 76 pages long but there are many important facts in the schedule. Mr. Evans claims he owns $82,790,000 in properties and there are $60,260,266 in secured claims.

Synopsis of Evans case (This feature will be included with future posts on Evans case): Charles Evans, Jr. was an attorney approved by Mississippi Valley Title Insurance Company to provide title certificates to MVT and lenders showing a borrower had clear title to property. MVT filed a lawsuit in September accusing his brother of using over 30 LLC's to obtain fraudulent loans from over 30 banks in Mississippi. Chris Evans would allegedly use one company to purchase a large tract of prime commercial real estate in Madison and Desoto Counties. Another company owned by Evans would obtain a commercial real estate mortgage on a smaller section of the tract yet that borrowing company never obtained a deed showing ownership of the land from the other company. Thus the smaller tract was actually non-existed as the larger tract was never actually subdivided. Charles would allegedly provide a title certificate however showing the borrowing company owned the land even though it didn't. Over 80 loans for nearly $50 million were issued by Mississippi banks to companies owned by Chris Evans for lands those companies either did not own. MVT has testified federal authorities are currently investigating the case. Chris Evans filed Chapter 7 bankruptcy on October 26, which stopped the Mississippi Valley Title's lawsuit against him as federal bankruptcy law stays most state civil court proceedings once a bankruptcy petition is filed. Mississippi Valley Title testified 65 title insurance claims for approximately $41 million have been filed by banks affected by the Evans case.

7 comments:

Anonymous said...

Crazy...

Anonymous said...

KF you may want to black out his SSN on page 76.

Anonymous said...

It's public record.

Anonymous said...

I'd like to meet the person who would try to steal Chris Evans' identity at this point! LOL!!!

Anonymous said...

Tylvester should have redacted it. That is his fault.

Anonymous said...

Mr. Fish, excellent work!

I wish there were better descriptions of the property becuase it looks like Chris Evans is telling us on those real estate schedules what the extent of the "total failure of title" claims are in the column titled "unsecured portion". It appears that he has a "secured" part for each 1st lien and an "unsecured" part for the rest of DTs.

Selling the parent tract and dividing the proceeds will just magnify the total amount of claims that have to be paid by MVT. This will be a distress sale at 2009-2010 crash prices of properties acquired during the peak of the boom and ultra-speculative prices - so if its like everything else, it will be at least 50% of it original value if not less.

As Mr. Fish said, it looks like the preliminary TRO had the effect of forcing everything into default and therefore magnifying the claims.

At this point, why not go ahead bust the Evans? Why are they still roaming around?

Anonymous said...

2:55 - My thoughts exactly ;-)



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In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


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If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

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