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Developers File for Bankruptcy Protection

ANTIOCH, CA-Jack Roddy and Wayne Pierce, developers of the popular Roddy Ranch Golf Club and a proposed housing project, have filed for federal Chapter 11 bankruptcy protection.

By Michelle Savage | Updated on September 05, 2002

ANTIOCH, CA-The developers of Roddy Ranch Golf Club and a proposed luxury housing project in Antioch have racked up about $42 million in debt, causing them to file for federal Chapter 11 bankruptcy protection.

Developers Jack Roddy and Wayne Pierce owe approximately $42 million to creditors, including First Blackhawk Financial Corp., which recently attempted to foreclose on the 2,116-acre ranch and two-year-old golf course after the pair’s company, Merchant Land Fund I, defaulted on a $10 million loan. The bankruptcy prevented the lender from foreclosing.

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