But last Thursday, June 14, the beleaguered couple filed for Chapter 7 bankruptcy protection, according to The DP:
- This places the couple’s assets under protection and under the control of a court-appointed trustee.
- The filing indicates the couple’s debts are “primarily business debts.”
- The bankruptcy petition prevents creditors from continuing lawsuits, garnishing debtors’ assets or even calling the debtors to demand payment.
- The filings indicate that the couple has between 50 and 100 creditors
- They owe between $10 million and $50 million in liabilities.
- The filing indicates the couple has between $1 million and $10 million in assets.
- There are at least three banks involved in Kluge/Moses proceedings. They include Sonabank, which foreclosed upon the couple’s Vineyard Estate development; Bank of America, which foreclosed on Kluge’s Albemarle House manor home; and Farm Credit Bank, which foreclosed on — and sold in pieces at auction — the couple’s Kluge Estate vineyard and winery.
"Glen Love," the Kluge / Moses Spec House Turned Downsizer, Lost to Foreclosure
Donald Trump Buys Kluge Estate Winery For a Song
Albemarle House was lost to foreclosure and is now listed at $16M by BofA