Former North Carolina investor files for bankruptcy
Tap to Call - (877) 250-8242

North Carolina investor declare chapter 11 bankruptcy


Share this article



A North Carolina couple reportedly owe more than $10 million to creditors.

A North Carolina investor and former millionaire has filed for personal bankruptcy protection after owing tens of millions of dollars in debts to various Wilmington retail developments, an industrial warehouse and the local yacht club, according to StarNews Online.

Howard Marks, Jr. and his wife, Sandra, filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for Eastern North Carolina. The couple's biggest creditor is reportedly the Quinn Family, who holds a note for the Mason Landing Yacht Club. The bankruptcy petition states the couple owes $14.4 million to that party, the media outlet reports.

In addition, the Markses owe RBC Centura Bank $3.8 million in connection with Masonboro Retail Partners and Masonboro Corner Market Partners. The news source said Carolina First Bank filed a claim for $2.28 million in connection with debt on a warehouse facility, while the Community One Bank, First Bank for the Lodges at Winkler Creek, Blue Ridge Savings and Park Sterling Bank all filed claims for at least $1 million.

The source did not list how much the Markses retain in assets.

Chapter 11 bankruptcy allows the petitioner to receive protection from creditors while a repayment plan is developed. Although it usually involves a corporation or partnership individuals heavily involved in business may also seek Chapter 11 protection, according to the U.S. Courts website.

Back to Newspaper Home

Tap to Call - (877) 250-8242

Copyright © 2018 MH Sub I, LLC. All rights reserved. ® Self-help services may not be permitted in all states. The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site. The attorney listings on this site are paid attorney advertising. In some states, the information on this website may be considered a lawyer referral service. Please reference the Terms of Use and the Supplemental Terms for specific information related to your state.Your use of this website constitutes acceptance of the "Terms & Conditions", "Supplemental Terms", "Privacy Policy" and "Cookie Policy."