Real estate developer Bob Bisno, who last year failed in an attempt to build a large redevelopment project in Baldwin Park, has filed for Chapter 11 bankruptcy protection.
The Los Angeles developer owes his largest 20 unsecured creditors more than $250 million, according to an Aug. 31 filing in U.S. Bankruptcy Court. His largest creditor is listed as commercial real estate investment firm iStar Financial, which is owed $109 million.
His company, Bisno Development Co., has suffered a series of setbacks, including slow sales at the luxury City Place condominiums constructed in Santa Ana. He also withdrew plans last year for a controversial redevelopment of 109 acres in downtown Baldwin Park that would have relied on eminent domain to clear the land.
(Source, L.A. Business Journal).
To add to Bisno’s pain, he “was recently booted from his big house in Beverly Park. According to records on file with the City of Los Angeles, on August 3, 2009 a bank holding a $5,315,530 loan on the Mister Bisno’s behemoth home foreclosed,” according to an online source.
Bisno is getting what he deserves! He tried to use eminent domain to ruin lives in Baldwin Park, and he built luxury condos in Santa Ana that the marketplace did not need and did not want.
Now if only One Broadway Plaza developer Mike Harrah would go bankrupt too…
Good! That’s what he deserves! Nothing but greed and contempt Bisno was promoting….and Harrah is right behind!
Art, why do you and others who like to blog seem to find such joy in the problems of others? What type of church do you go to if any? Just curious because I want to avoid that religion.
#2,
Not even God could have helped the people of Baldwin Park if Bisno had succeeded in taking their homes and businesses so he could build his development project. Luckily for them he got tossed on his ear.
And now he is broke. That is called Karma…
What type of church do you go to if any?
I think Forgiven asks a good question Art. What do you believe in? You are quick to forgive yourself but show no mercy towards others. You really do live a godless life it seems. What do you believe?
Regardless if you think this man’s developments were good or bad (as you well know, the market decides), he is still a person who is stuck in a bad spot because of the economic downturn. I do not wish his family to suffer the way many of us have, and I do not relish when he does hit this bad spot. I think that’s what poster #2 was trying to say – it’s ok for us to root for a development not to happen, but something else to be “happy” for someone’s family misfortune.
#5,
Why don’t you Google “Bisno, San Pedro,” and “Bisno, Baldwin Park,” so you can see all the grief that this bastard caused?
At least now he can’t cause any more harm to anyone else for his own enrichment.
Hey Art……Fight people like Bisno legaly. You really show your ignorance with the name calling,just like you did in the santa ana /olvera st. blog. You have good points and will get more people to back your opinion and fight developers like this guy if you sounded a little more professional.
Hey Art……Fight people like Bisno legaly. You really show your ignorance with the name calling,just like you did in the santa ana /olvera st. blog.
Perhaps Mr. Bisno should not have donated so much money to Claudia “Cash ‘N Carry” Alvarez’s various campaigns.
Concerning Santa Ana and blogs and a ‘friend’ of ours, please visit http://www.pontevista.blogspot.com to learn about the City Place, Santa Ana developer Robert H. (Bob) Bisno declaring Bankruptcy under Chapter 11.
I think there are also folks in Baldwin Park who are more comfortable knowing that Bob probably won’t try and come back to that community.
As far as City Place is concerned, I haven’t been keeping up with how well sales or leases are going. I also don’t know if Bob was still involved in the project.
I do want to thank all of you, and especially Art, for educating people about Bob and his attempts to change their community to what he wants and not what the residents want.
Bisno was just a businessman bringing change to communities who will at least eventually need more housing to meet demands. He lost his project in BP simply because the recession meant his creditors wouldn’t be able to follow through his with the project. Many people in BP supported the project, with only a relatively small (not meaning there weren’t any, just small in comparison to the supportive residents) minority complaining. He’ll probably be back to work when business picks up again. And it will.
Bob Bisno’s actions caused many very innocent children to be deprived of the full benefits of education and health and welfare to be provided to them.
Not to mention that his son is a meth addict, and he tried to buy an election… As an ex- close personal friend of the family i was waitng for this.
I’m also very well acquainted with Robert Bisno and his ex-wife Jan. If you look in the dictionary for a definition of “sleazebag”, it would have Robert’s picture next to it. His ex-wife was a low-rent hairstylist who hit the lottery when she started dating and then later married Bobby (as she called him). Being nothing but a vapid goldddigger, she put up with his numerous affairs as long as he made good on her outrageous Neiman Marcus and Nordstroms bills every month.
These two wastes of life are the embodiment of everything that is wrong with the United States. Warning to you men out there, now that Jan is divorced, she is probably looking to sink her claws into the next sucker-victim. If you happen to run into her, don’t let her know if you have money.