Home manage Las Vegas Review-Journal
  Jobs Cars Homes Shopping Travel Weddings Golf Best of Las Vegas Photo   Search:

RECENT EDITIONS
Thu Fri Sat Sun Mon Tue Wed

Breaking News


Las Vegas developer Jim Rhodes files for bankruptcy

Developer James Rhodes tonight filed a petition for bankruptcy on behalf of many of his key businesses, including Rhodes Design and Development Corp., listing $100 million to $500 million in assets and liabilities in the same range.

The developer filed for bankruptcy under Chapter 11, which allows the companies to continue operating while their finances are restructured.


Most Popular Stories
  • Tourist describes chaos as car plows into Laughlin casino, killing two
  • Tourist describes chaos as car plows into Laughlin casino, killing two
  • Shutting down the Ritz
  • Shutting down the Ritz
  • Former commander of USS Cole considers run against Reid
  • Flood advisory for Las Vegas Valley
  • Son of police officer critical after accidentally shooting himself
  • Son of police officer critical after accidentally shooting himself
  • BUDGET CRUNCH: Schools superintendent says proposed cuts would cost 2,322 teacher jobs
  • BUDGET CRUNCH: Schools superintendent says proposed cuts would cost 2,322 teacher jobs
  • Relatives remember grandmother killed in Laughlin accident
  • Gang member sentenced to prison in 2007 slaying
  • Some community leaders say Goodman overreacted to Obama's latest Las Vegas comment
  • NEVADA'S BUDGET WOES: Dentures, diapers for elderly out under proposed reductions, officials say
  • NEVADA'S BUDGET WOES: Dentures, diapers for elderly out under proposed reductions, officials say




  • Rhodes has been one of Las Vegas’ most successful and controversial developers and home builders. He developed Rhodes Ranch in southwest Las Vegas and Tuscany Village in Henderson. He provoked the ire of environmentalists with his development of the Red Rock County Club community near the recreation area of the same name.

    Rhodes drew news coverage again when Erin Kenny, the former Clark County commissioner, disclosed that Rhodes paid her $200,000 a year for consulting after she pleaded guilty to federal corruption charges. Kenny was sentenced to 30 months in prison in connection with the bribery case.

    The Arizona Corporation Commission questioned Rhodes about his business relationship with Kenny when he sought to establish a water utility for a master planned community proposed in Golden Valley between Kingman and Bullhead City.

    The Arizona panel also grilled Rhodes over $148,000 in fines he paid after admitting he illegally funneled campaign contributions in 2002 through employees and employees’ spouses to Sen. Harry Reid, D-Nev., and then County Commissioner Dario Herrera. Herrera also was convicted in connection with the bribery case.

    The Rhodes Companies filed the bankruptcy petition but an attachment notes that 31 affiliated companies also are seeking protection under Chapter 11 bankruptcy.

    They include Rhodes Ranch General Partnership, Rhodes Ranch Golf and Country Club, Tuscany Golf Country Club, Tuscany Acquisitions and three similarly named companies, Rhodes Realty, Rhodes Homes Arizona, Rhodes Arizona Properties, Tribes Holdings, Six Feathers Holdings and Bravo. Rhodes filed a statement explaining that he believed “it is in the best interests of the company, its creditors” and others to file for Chapter 11.

    The Sunstate Companies of Las Vegas is the largest unsecured creditor and is owed $201,000, followed by G.C. Wallace of Las Vegas which is owed about the same amount. The developer estimated that between 5,000 and 10,000 creditors will have claims in the bankruptcy case.

    He hired the law firm of Pachulski Stang Ziehl & Jones which has offices in Los Angeles and other cities, but the petition was filed by Larson & Stephens of Las Vegas.

    Contact reporter John G. Edwards at jedwards@reviewjournal.com or 702-383-0420.

    Newsvine Digg Fark Technorati reddit StumbleUpon del.icio.us Slashdot Propeller Mixx Furl Twitter MySpace Facebook Google Bookmarks Yahoo! Bookmarks Windows Live Favorites Ask MyStuff myAOL Favorites

    Leave Your Comment 2 Reader Comments
    Terms & Conditions
    The following comments are provided by readers and are the sole responsiblity of the authors. The reviewjournal.com does not review comments before publication nor guarantee their accuracy. By publishing a comment here you agree to abide by the comment policy. If you see a comment that violates the policy, please notify the web editor.

    Some comments may not display immediately due to an automatic filter. These comments will be reviewed within 48 hours. Please do not submit a comment more than once.
    Current Word Count:

    Note: Comments made by reporters and editors of the Las Vegas Review-Journal are presented with a yellow background.

    jon wrote on April 01, 2009 01:05 AM: when you have a 6k sq ft home, 285K naybach car, porsch, the toys add up..... and they go away wuth the repo man................


    Alan wrote on March 31, 2009 11:58 PM: Nice to see that the Rhodes entities could afford to hire the Los Angeles law firm known as "the best debtor's lawyers in the west". Its the same law firm hired by Woodside Homes for their Chapter 11's. Small world.