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As a bevy of lawyers debated the fate of Webster developer Lawrence Frumusa’s properties in Bankruptcy Court this month, the court moved to strip his control over his holdings, putting the properties under the stewardship of Chapter 7 trustees.
Asked how he would answer the contempt citation, Frumusa produced an Aug. 3 letter he had written to Seventh Judicial District Chief Administrative Judge Thomas Van Strydonck asking Van Strydonck to intervene. In the letter, Frumusa complains he has been treated unfairly by Fisher. No action by Van Strydonck is noted in court records.
Numerous properties and real estate businesses of Webster developer Lawrence Frumusa have ended up in court. They include:
– Webster Holiday Inn Express & Suites-Frumusa has filed a new Chapter 11 petition for this hotel, naming himself as one of the creditors. A court-appointed receiver is running the hotel.
– Scenic Village-A lender has placed a nearly $1 million lien on this apartment and townhouse development in Webster. A Chapter 7 trustee is collecting Scenic Village rents.
– Rising Tide LLC, Maincliff Properties LLC and Frumusa Land Development LLC-Frumusa filed Chapter 11 petitions for these three real estate companies he controls. The bankruptcy judge ordered them converted to Chapter 7 liquidations.
Frumusa also filed a Chapter 11 petition for himself personally, which the judge converted to Chapter 7. Frumusa is trying to reverse this conversion.
And the developer was arrested in February on a felony charge of possession of a forged instrument. He remains free on that charge and is in talks with the Monroe County district attorney’s office.
08/21/09 (c) Rochester Business Journal. To obtain permission to reprint this article, call (585) 546-8303.