Property Management

BuildNet Files Chapter 11

BuildNet, Inc., a business-to-business online supplier for homebuilders, today announced that it, along with six of its subsidiaries, has filed a petition for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Middle District of North Carolina. BuildNet"s wholly owned subsidiary, NxTrend, based in Colorado Springs, was not included in the filing. BuildNet"s petition for relief under Chapter 11 comes after Golden, Colorado-based HomeSphere rescinded its offer to merge with BuildNet, after BuildNet failed to reach agreement with its creditors. BuildNet had raised $140 million from venture capitalists.


Add your comment:
Name:
Site address: http://
Your message:
Enter today\\\\'s date, 2 digits
(spam protection):

Categories
Commercial Property
Estate and mortgage
Investment property
Primary market
Property Management
Real Estate News
Rent Real Estate
Resales
Residential Real Estate
Technology Transactions
News of the day
Higher Loan Limits in "06
As many as perhaps a million home buyers will catch a slight interest rate break next year, thanks to one of the largest increases on record in the so-called conforming loan limit.
Popular Articles
poundstillpayday

Choosing The Right Investment Mortgage
With favorable appreciation rates, low interest rates and Wall Street in the grip of a bear, a second home is an appealing investment right now. Deciding what mortgage you"ll need to swing the deal, however, isn"t quite so clear.

How to "Cure" Your House Before You Sell
If you"re getting ready to sell, then ensuring you have curb appeal, clutter-free rooms, and the look of a model home is important. But it"s also vital to play house doctor and cure those ailments that have been lingering -- drafty windows, stale odors, cold floors, and the like.

© Copyright 2009