Fort Collins home builder files for Chapter 7 bankruptcy
FORT COLLINS – Home builder Bluestone Homes of Colorado LLC, which has been the target of several recent lawsuits, has filed for Chapter 7 bankruptcy protection.
Under Chapter 7, a bankruptcy trustee gathers and sells the debtor’s nonexempt assets and uses the proceeds of such assets to pay creditors or other holders of claims under the terms of the Bankruptcy Code. That code also allows the debtor to keep certain “exempt” property; but a trustee will liquidate the debtor’s remaining assets.
In the Oct. 31 filing, the Fort Collins-based company, which was founded in 2009 by Terence Hoaglund, reported that it owed…
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