Las Vegas developer Bill Plise, facing personal debt and liabilities topping $100 million, voluntarily filed for Chapter 7 bankruptcy protection Monday.
A filing in U.S. Bankruptcy Court for Nevada in Las Vegas says Plise has assets of $50,000 or less vs. estimated liabilities of $100 million to $500 million.
Detailed numbers have not yet been filed with the bankruptcy court.
In 2007 and 2008, Plise tried to develop a $2 billion project called City Crossing in Henderson that would have included luxury housing, offices and retail. It was planned for St. Rose Parkway, just east of Las Vegas Boulevard.
Amid the worst local recession in memory, the 126-acre City Crossing never got off the ground beyond site work and it filed for bankruptcy in June 2008 with $192 million in debt.
Also in 2008, the Nevada State Contractors Board suspended the license of Plise and his company, Plise Development and Construction, over allegations of unpaid bills and other problems.
Plise is known for developing other projects around the valley, including some that opened during the recession without tenants because of the economic slowdown.
For instance, scores of lawsuits were filed against Plise and his companies over allegedly unpaid bills resulting from development of the Rainbow Sunset Pavilion mixed-use center at Rainbow Boulevard and Sunset Road in the Southwest Las Vegas Valley.
That center included more than 250,000 square feet of office space that became available in 2009 just as the local economy was sinking and there were few tenants that could lease the space.
In all, according to Plise promotional material from 2006, the company had completed or was developing 5 million square feet of office space and was responsible for Centennial Corporate Center, Siena Office Park, Rainbow Quail Plaza and the Rainbow Diablo Professional Office Building.
A request for comment on the bankruptcy was placed with Plise through his attorney.