Sixells investor Skidmore seeks Chapter 11 protection - Business First of Columbus:

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Filed incomplete July 2 in the Eastern Districgof California, the bankruptcy documents list more than 50 creditors, assetds of more than $1 million and liabilitiesx of more than $10 million. Sixells was developing high-end projects near Fair Oaks Boulevars and off of Fulton Boulevarc that began going sidewaysz as early as 2005 when they were hit with wavesx ofmechanics liens. Skidmore was an investor with nota developer, and as such had made personalo guarantees on loans for Sixells. When the developef could not pay, the banks came after Skidmore.
Skidmore filed suits and counter-suits that claimed the banks didn’t manage their loans and had kept giving Sixells moneu even when projects were seriouslg outof schedule. Skidmore was sued last fall byseverakl banks, including , and . Skidmor founded and served as chairmanm for 11 yearsof . He stepped down from that positiobnlast week, ahead of the bankruptcy Greater Sacramento was not involved in the construction loan suits.