Yorkway Developer Files for Chapter 7 Liquidation
Bankruptcy trustee accuses John Vontran of ‘gross mismanagement’ and providing ‘inaccurate and incomplete information.’ Effect on ambitious Dundalk development project remains uncertain, though work continues, a published report says.
Photos
John Vontran, who bought the onetime site of the troubled Yorkway apartment complex in Dundalk promising to build 66 upscale homes, has consented to Chapter 7 liquidation of assets, a Baltimore newspaper has reported.
Baltimore's City Paper reported Wednesday the consent to liquidate came Oct. 25 after a U.S. bankruptcy trustee accused Vontran and his wife, Kelly, of "gross mismanagement" and providing "inaccurate and incomplete information" to creditors about Yorkway LLC, the project's developer, and a related company.
The City Paper also reported John Vontran's former video-poker machine company, Amusement Vending Inc., had forfeited more than $50,000 in illegal gambling proceeds to the federal government earlier this year.
What effect the liquidation could have on the Yorkway project remained unclear, though work has continued on the site, for-sale signs are up, a sales center is open and nine houses have been completed.
Vontran, a Perry Hall resident, and his wife had filed for Chapter 11 bankruptcy last December, but county officials said at the time they expected it to have no effect on the project.
Vontran's company, Yorkway LLC, had bought the site of the former apartment complex from Baltimore County for $1.64 million in 2008, two years after the county had paid $21 million for it.
On the charter document for Yorkway LLC, Vontran is listed as the general manager but no other principals are listed, the Dundalk Eagle has reported.
Vontran, according to bankruptcy documents, at first refused to disclose the identities of the owners of Yorkway Properties LLC, but later acknowledged they are his brother, his mother and his brother-in-law, the City Paper said.
Numerous lawmakers, including former County Executive Jim Smith, had heralded the Yorkway project. "This is what renaissance is all about," Smith said at a groundbreaking last fall.
Read more in the City Paper.
Wayne Monroe
4:41 pm on Wednesday, December 1, 2010
What did the county need him for anyway? The county bought the property, did the demolition and site preparation builder-ready. The fact that Voltran had a video poker machine company is a very interesting tidbit as well; it tends to confirm the political nature of the whole deal.
Buzz Beeler
8:32 pm on Wednesday, December 1, 2010
Can't say I told you so, but I did, time and time again. I ran my campaign on Councilman's Olszewski's and his council resolution that supported this project. That was taxpayers money being spent, and $1.6 million does not equal $21 million.
I think this is just the tip of the iceberg and it will be interesting to see where this winds up. The City Paper deserves an award for their in-depth reporting on this one. Shame on the rest of the media, maybe that's why their ratings and circulation are headed south.
Where was Jim Smith on this one? For that matter where the heck was the council? Stay tuned for the rest of the story, cause there's more to it than meets the eye as they say.
Amy Middleton
9:11 pm on Wednesday, December 1, 2010
Our politicians are too busy patting each other on the back to tend to real matters at hand. This is gross mismanagement and of course no one will step up to the plate now and speak up for what the deal really meant. Jim Smith will fade gracefully into the twilight and the rest will pretend like they have no idea what you're talking about. Oh and don't expect to see Kamenetz round these parts to save the day either. I am with Buzz...kudos to the City Paper...keep on truckin guys maybe there is a bottom to this.
Buzz Beeler
1:27 am on Thursday, December 2, 2010
Amy, I think you'll find the answer when you read County Council Resolution 9-09. As they say, around and around it goes and where it stops, no one knows.
And when their done, I want our money back.
Tom Tucker
9:12 am on Thursday, December 2, 2010
I dont understand how the County can conduct business with someone who was running an illegal gambling operation in the County ! And by the way, the investigation was started by Baltimore County Police. Voltron was one of Kamenetz's biggest supporters as well, he drove the annoying truck that had "Kamenetz for the county "plastered all over the side of it. Now with him as Co Executive, Voltron will get away with whatever he wants to... seems dirty all the way around !
Buzz Beeler
11:20 am on Thursday, December 2, 2010
Tom, its the good ole boys club. Take a minute and look up Baltimore County Council Resolution 9-09 submitted by John Olzsewski Sr. who also a close friend of Mr. Vontran and strongly supported Kamenetz.
The county police dropped the ball. They had their chance several years ago and I think no charges were filed. In a article in the Dundalk Eagle regarding Mr. Olzsewski's brother they covered this issue.
I think the PG County arrests are just the tip of the iceberg and I would suggest stay tuned, this could get interesting.
trinameda
1:06 pm on Thursday, December 2, 2010
So where does that leave the people who bought those homes?
Buzz Beeler
10:15 pm on Thursday, December 2, 2010
Trinameda, I don't think they will take any action regarding the home owners. I'm sure they all bought them in good faith and they will have no impact on where this goes from here.
I just hope the feds hit a home run and round all the bases.