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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. Good riddance to this dangerous activist judge

  2. What is the one thing the Hoosier legal status quo hates more than a whistleblower? A lawyer whistleblower taking on the system man to man. That must never be rewarded, must always, always, always be punished, lest the whole rotten tree be felled.

  3. I want to post this to keep this tread alive and hope more of David's former clients might come forward. In my case, this coward of a man represented me from June 2014 for a couple of months before I fired him. I knew something was wrong when he blatantly lied about what he had advised me in my contentious and unfortunate divorce trial. His impact on the proceedings cast a very long shadow and continues to impact me after a lengthy 19 month divorce. I would join a class action suit.

  4. The dispute in LB Indiana regarding lake front property rights is typical of most beach communities along our Great Lakes. Simply put, communication to non owners when visiting the lakefront would be beneficial. The Great Lakes are designated navigational waters (including shorelines). The high-water mark signifies the area one is able to navigate. This means you can walk, run, skip, etc. along the shores. You can't however loiter, camp, sunbath in front of someones property. Informational signs may be helpful to owners and visitors. Our Great Lakes are a treasure that should be enjoyed by all. PS We should all be concerned that the Long Beach, Indiana community is on septic systems.

  5. Dear Fan, let me help you correct the title to your post. "ACLU is [Left] most of the time" will render it accurate. Just google it if you doubt that I am, err, "right" about this: "By the mid-1930s, Roger Nash Baldwin had carved out a well-established reputation as America’s foremost civil libertarian. He was, at the same time, one of the nation’s leading figures in left-of-center circles. Founder and long time director of the American Civil Liberties Union, Baldwin was a firm Popular Fronter who believed that forces on the left side of the political spectrum should unite to ward off the threat posed by right-wing aggressors and to advance progressive causes. Baldwin’s expansive civil liberties perspective, coupled with his determined belief in the need for sweeping socioeconomic change, sometimes resulted in contradictory and controversial pronouncements. That made him something of a lightning rod for those who painted the ACLU with a red brush." http://www.harvardsquarelibrary.org/biographies/roger-baldwin-2/ "[George Soros underwrites the ACLU' which It supports open borders, has rushed to the defense of suspected terrorists and their abettors, and appointed former New Left terrorist Bernardine Dohrn to its Advisory Board." http://www.discoverthenetworks.org/viewSubCategory.asp?id=1237 "The creation of non-profit law firms ushered in an era of progressive public interest firms modeled after already established like the National Association for the Advancement of Colored People ("NAACP") and the American Civil Liberties Union ("ACLU") to advance progressive causes from the environmental protection to consumer advocacy." https://en.wikipedia.org/wiki/Cause_lawyering

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