Dot-com millionaire Halsey Minor, who has filed two Chapter 11 cases in Virginia, filed for Chapter 7 protection in a California bankruptcy court May 24.
Minor established Carter’s Grove, LLC in 2007 to purchase Carter’s Grove from Colonial Williamsburg for just over $15 million. In 2011, he filed for Chapter 11 in that venture. Minor also filed for Chapter 11 for Minor Family Hotels, LLC, which was also established in 2007, in Charlottesville.
In Minor’s Chapter 7 case, notice was sent to more than 60 creditors. In the filed paperwork, his debts are marked as between $50 million and $100 million while his assets are between $10 million and $50 million.
“I love being an entrepreneur even though it involves financial risk. I have been fortunate enough to play a meaningful role in building great companies like CNET Networks, salesforce.com, Rhapsody, NBCi, the service known as Google Voice and others. But if you win some you are going to lose some too,” Minor said in an emailed statement. “A case might be made I should never have strayed from technology. However, I like doing things outside my comfort zone, and I believe that willingness in part accounts for my tech successes.”
Earlier this month, the court-appointed trustee –Stanley Samorajczyk—in the Carter’s Grove Chapter 11 case said Carter’s Grove was up for sale with listing agent Stephen McLean of Charlottesville-based McLean Faulconer, Inc.
“Colonial Williamsburg was informed by the Trustee for Carter’s Grove LLC that Halsey Minor has filed a Chapter 7 bankruptcy petition in the United States Bankruptcy Court in Los Angeles. Colonial Williamsburg also has been informed by the Trustee that Mr. Minor’s personal bankruptcy filing will not affect the marketing and sale of Carter’s Grove,” said Sally McConnell, Colonial Williamsburg Foundation director of strategic communications in an emailed statement.
In the Carter’s Grove proceedings, an order suspending proceedings was filed Thursday. The order deals with a motion filed May 1 requesting Minor be ordered to pay sanctions in the amount of $21,376 for attorney fees Samorajczyk incurred trying to serve Minor with a subpoena. The motion came after Samorajczyk filed documents to have Minor apprehended to appear in court.
Thursday’s order suspends a ruling in which the motion requesting sanctions was granted.
Samorajczyk also filed a motion to have Minor’s attorneys file their final fee applications in the Carter’s Grove case by June 17 to determine whether a reorganization plan is possible. Minor’s attorneys responded to the court indicating the fee applications would be filed by June 3 and a hearing is set for June 23. Any fees submitted after June 3 would be negated by the court and the attorneys will not be able to collect on those fees.
Related Coverage
- Halsey Minor Breaks Silence in Carter’s Grove Case
- Motion Filed to Have Carter’s Grove Owner Apprehended
- Judge Gives Nod to Carter’s Grove Settlement Agreement
- CW and Trustee Reach Tentative Agreement in Carter’s Grove Case
- CW Threatens to Pursue Foreclosure in Carter’s Grove
- Carter’s Grove Case to Move to Newport News
