Anaverde LLC did indeed file for bankruptcy in January.
This is a Chapter 11 filing, which means they are dumping their debt and reorganizing.
You can catch up on the history of the whole development here, but basically Empire walked away from it's share of Anaverde during it's bankruptcy and Anaverde LLC was taken under new management.
The bankruptcy motion, which you can see here, says that Anaverde LLC is being sold to New Anaverde, which is "an entity formed by some of Anaverde's equity investors".
The bankruptcy motion provides alot of information regarding the status of the development.
WESTSIDE UNION SCHOOL DISTRICT
LAWSUIT AGAINST ANAVERDE LLC
The Westside Union School District, which is the school district both Anaverde Elementary and Hillview Middle School fall under, filed an amended lawsuit against Anaverde LLC and Titan Escrow in January.
The lawsuit, which can be seen here, contends that the developer is in breach of contract of the 1992 Mitigation Agreement between Anaverde LLC and the Westside Union School district to build Anaverde Elementary. That Mitigation Agreement is an exhibit to the lawsuit, so you can find it and that end of that document.
Westside has requested a jury trial, and in addition to legal fees and damages, they are seeking over $80M in the following monetary amounts from Anaverde LLC:
1. $30M for damages resulting in a breach of the contract. 2. $30M for damages resulting in breach of good faith and fair dealing 3. Damages of $10M plus interest and punitive damages for unjust enrichment (they contend Empire received money in the bankruptcy that they said was to be used to build the school but never was) 4. $3,684,706.21 that Empire withdrew from an escrow account established for the construction of the school
5. The funds remaining in the escrow account, which should be around $6.5M.
From Titan Escrow they are seeking an amount equal to the funds remaining in the escrow account, as damages for breach of contract.
HAVE YOUR SAY!!
The HOA Board of Directors will be voting to establish a Social Committee, elect a chairperson and set a budget for the Social Committee at the February meeting.
This is your HOA dues being used to bring community events to Anaverde.
7 people are needed for this committee. If you would like to help, please submit a Committee Candiate form via
One of the events coming up is the Spring Festival in conjunction with Anaverde Hills Elementary.
Some suggestions that have been given for community events are:
Community Garage Sale Days
Seasonal Decorations on Avenue S
Halloween Decoration Contests
Christmas Light Contests
If you have other ideas or would like assist, please ATTEND THE HOA BOARD MEETING and provide your input.