Last October, Fort Worth homebuilder Village Homes filed for Chapter 11 reorganization when a major legal fight disrupted the company’s ability to do business.
According to Village Homes, the issue stemmed from a 2024 contract to sell 100 vacant lots, the company name, and related intellectual property as part of a planned rebrand and retirement for one of the co-founder’s original partners.
The proposed buyer failed to close and Village Homes terminated the contract. Village Homes has since filed a declaratory judgment lawsuit to confirm the termination. The buyer responded by countersuing and filing a pending lawsuit notice against each of the lots. That action impeded Village Homes operations and the filing was taken to preserve the value of the business as a going concern and continue operations, according to the company…