Luxury Home Builder Leaves Loads of Tri-Citians High & Dry
With 1.1 Million Dollars in assets and 9.2 Million Dollars in liabilities luxury home builder Solferino Homes aka M|S Homes has filed for bankruptcy and permission to liquidate its assets...
Several local businesses and prospective home buyers are at risk of losing thousands of dollars in this legal move.
Unsecured creditors are the last to get paid in bankruptcy cases and frequently receive a fraction of what they say they are owed including:
- Premier Landscape & Design Inc. of Richland ($283,640) Loss
- Kelly Right Real Estate of Kennewick ($133,216) Loss
- Perfection Glass of Richland ($137,967) Loss
- IWI Insulation Inc. of Kennewick ($108,721) Loss
- Apollo Sheet Metal Inc. of Kennewick ($100,639) Loss
- Rolling Stone Construction of Kennewick ($137,811) Loss
- RP Development of Kennewick ($137,457) Loss
According to the filing and the Tri-City Herald folks that hired Solferino Homes aka M|S Homes to build a home for them may potentially lose hundreds of thousands of dollars:
Claims for deposits and work not completed include a Benton City woman ($484,244), a couple from Richland ($313,584), a West Richland couple ($274,157), a Mesa couple ($148,600) and a couple from Sammamish ($114,449).