Greater Des Moines developer Dan Stanbrough, who took five businesses into bankruptcy court in 2010 only to have the cases rejected by judges or withdrawn by his attorney, has filed for personal bankruptcy in federal court in Florida.
That according to this Business Record article.
Followers of the Des Moines real estate industry will recognize the Stanbrough name. According to the Business Record and the Florida bankruptcy filing, Dan was formerly President of American Abstract and partner/developer in multiple real estate dealings across the greater Des Moines area.
According to the filing, Dan Stanbrough is due $105,000 in dividends from American Abstract Co., where he once was president, and $2.2 million from former partners who also filed for bankruptcy during the financial crisis.
The Stanbroughs claim $2.3 million in real estate assets, all in Greater Des Moines, and other financial assets of $107,400. Among their personal property, the Stanbroughs say in the filing that they have framed hockey jerseys valued at $1,250.
According to the filing, the couple has no monthly income.
Read more here: http://www.businessrecord.com/Content/Real-Estate-Development/Real-Estate-Development/Article/Greater-Des-Moines-developer-Stanbrough-now-in-Florida-claims-he-s-bankrupt/173/835/72903#ixzz46act5H3X