South builder files for personal bankruptcy

This morning's Bee reports builder John D. Reynen -- half of Reynen & Bardis Communities -- has filed for personal bankruptcy protection.  Murietans know R&B most notably for dozens of homes on the South that have suffered foundation problems.

Reading the court filings, the Bee says Reynen and company co-founder Christo Bardis guaranteed more than $750 million in loans with their personal property.  In Reynen's case, that includes homes in Sacramento, El Dorado Hills, Truckee and Mendocino.  (Bardis' homes are in Gold River, Pebble Beach and L.A.)  Although the company is trying to work things out with its creditors, Bank of the West has taken action to attach Reynen's personal property, an R&B spokesperson tells the Bee.

More from the Bee: Reynen's filing estimates his personal wealth at $50 million to $100 million while he's facing between 1,000 and 5,000 creditors who are owed $500 million to $1 billion.

R&B says the filing won't affect company operations.

Full story here.