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Indy attorney, developer Page files bankruptcy

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Indianapolis attorney and developer Paul J. Page has filed personal bankruptcy and lists his largest debt as a $6 million guarantee on a downtown Indianapolis condominium project.

Page was one of four principals of troubled Indianapolis-based condo developer Page Development, which spearheaded the Villagio at Page Pointe as well as numerous condo developments in Florida. Most of those have been foreclosed upon, according to court documents.

Page filed for Chapter 7 bankruptcy Dec. 31 in U.S. Bankruptcy Court in Indianapolis. He listed assets of $1.3 million and liabilities of $13.6 million, which includes $12.4 million of unsecured debt.

Page’s major assets include two homes he and his wife own in Indianapolis and Englewood, Fla. His personal property includes a 2009 Cadillac CTS with 78,000 miles valued at $10,000, a pool table worth $200, and $200 of cash on hand.

His income of $351,078 in 2011 shrank to $144,334 in 2012, court documents said.

Among his unsecured debt is the $6 million loan guarantee on the Page Pointe condo project owed to First Horizon Home Loans. He also lists more than $3 million in loan guarantees mainly from his business activity with Page Development, and a $2 million promissory note on a Florida condominium.

Page early last year pleaded guilty to a felony wire fraud charge in U.S. District Court in South Bend, agreeing to testify if called against co-defendants John M. Bales, a real estate broker, and Bales partner William E. Spencer in a Northern District case.

A 14-count indictment in South Bend alleged Page, Bales and Spencer defrauded the state and a bank over their purchase of a building in Elkhart and a subsequent lease deal with the state's Department of Child Services. A jury found Bales and Spencer not guilty.

Page was sentenced to two years probation and ordered to pay a $10,000 fine for concealing the source of a $362,000 down payment on his purchase of the state-leased office building in Elkhart.

Page is the third Page Development executive to file bankruptcy after the firm’s real estate ventures were upended by the housing crash.

Paul M. Pittman, Page’s law partner and chief financial officer of Page Development, filed Chapter 7 in September 2011. And Tony Page, who was president of the company, filed in July 2010.

Page Development CEO Peter J. Page was the other principal of the company.

Calls to Paul J. Page and his lawyer were not immediately returned.

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  1. Mr. Ricker, how foolish of you to think that by complying with the law you would be ok. Don't you know that Indiana is a state that welcomes monopolies, and that Indiana's legislature is the one entity in this state that believes monopolistic practices (such as those engaged in by Indiana Association of Beverage Retailers) make Indiana a "business-friendly" state? How can you not see this????

  2. Actually, and most strikingly, the ruling failed to address the central issue to the whole case: Namely, Black Knight/LPS, who was NEVER a party to the State court litigation, and who is under a 2013 consent judgment in Indiana (where it has stipulated to the forgery of loan documents, the ones specifically at issue in my case)never disclosed itself in State court or remediated the forged loan documents as was REQUIRED of them by the CJ. In essence, what the court is willfully ignoring, is that it is setting a precedent that the supplier of a defective product, one whom is under a consent judgment stipulating to such, and under obligation to remediate said defective product, can: 1.) Ignore the CJ 2.) Allow counsel to commit fraud on the state court 3.) Then try to hide behind Rooker Feldman doctrine as a bar to being held culpable in federal court. The problem here is the court is in direct conflict with its own ruling(s) in Johnson v. Pushpin Holdings & Iqbal- 780 F.3d 728, at 730 “What Johnson adds - what the defendants in this suit have failed to appreciate—is that federal courts retain jurisdiction to award damages for fraud that imposes extrajudicial injury. The Supreme Court drew that very line in Exxon Mobil ... Iqbal alleges that the defendants conducted a racketeering enterprise that predates the state court’s judgments ...but Exxon Mobil shows that the Rooker Feldman doctrine asks what injury the plaintiff asks the federal court to redress, not whether the injury is “intertwined” with something else …Because Iqbal seeks damages for activity that (he alleges) predates the state litigation and caused injury independently of it, the Rooker-Feldman doctrine does not block this suit. It must be reinstated.” So, as I already noted to others, I now have the chance to bring my case to SCOTUS; the ruling by Wood & Posner is flawed on numerous levels,BUT most troubling is the fact that the authors KNOW it's a flawed ruling and choose to ignore the flaws for one simple reason: The courts have decided to agree with former AG Eric Holder that national banks "Are too big to fail" and must win at any cost-even that of due process, case precedent, & the truth....Let's see if SCOTUS wants a bite at the apple.

  3. I am in NJ & just found out that there is a judgment against me in an action by Driver's Solutions LLC in IN. I was never served with any Court pleadings, etc. and the only thing that I can find out is that they were using an old Staten Island NY address for me. I have been in NJ for over 20 years and cannot get any response from Drivers Solutions in IN. They have a different lawyer now. I need to get this vacated or stopped - it is now almost double & at 18%. Any help would be appreciated. Thank you.

  4. I am in NJ & just found out that there is a judgment against me in an action by Driver's Solutions LLC in IN. I was never served with any Court pleadings, etc. and the only thing that I can find out is that they were using an old Staten Island NY address for me. I have been in NJ for over 20 years and cannot get any response from Drivers Solutions in IN. They have a different lawyer now. I need to get this vacated or stopped - it is now almost double & at 18%. Any help would be appreciated. Thank you.

  5. Please I need help with my class action lawsuits, im currently in pro-se and im having hard time findiNG A LAWYER TO ASSIST ME

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