Monday, July 30, 2012
© Copyright 2015
Gwinnett Daily Post
ATLANTA -- Former Gwinnett commissioner Kevin Kenerly may have settled his bankruptcy case.
Kenerly, who faces criminal charges related to a bribery allegation, filed documents in federal bankruptcy court seeking dismissal of the case.
The filing said Kenerly "has resolved or is well underway with the process of resolving problems and issues with his secured creditors and there is very little unsecured debt in his case."
The case has revolved around credit from Kenerly's real estate, including $1.6 million owed on his Chateau Elan home and $700,000 owed for property in Myrtle Beach, S.C.
The filing notes that the U.S. trustee does not oppose the dismissal and said, "there are no assets and income to justify a further effort toward reorganization."
An attorney familiar with bankruptcy law said such motions are common in cases with few assets, when the assets are fully leveraged, once a debtor has worked out an agreement with a bank on a mortgage and general creditors do not object.
In late 2010, Kenerly resigned his position as commissioner and faces an indictment on a bribery charge on allegations he accepted a $1 million bribe from a developer for working out a favorable deal for the county to purchase land for a park.
An Aug. 22 hearing is scheduled in the criminal case, a week after a hearing on the motion to dismiss the bankruptcy case is set.