Curated News
By: NewsRamp Editorial Staff
July 29, 2025

Chasen Cos. Collapse: Lavish Pay, $39.5M Debt, and Jet Mystery

Reddit Discuss on LinkedIn participate in discussion on bluesky Participate in discussion on Mastodon View History of this news story on GitHub
Original Source

TLDR

  • Chasen Companies' executives secured high pay amidst financial collapse, highlighting a strategy to prioritize personal gain over company survival and creditor obligations.
  • Chasen Construction's bankruptcy filings detail $39.5M liabilities with $0 assets, revealing a financial structure unable to sustain its operations or executive compensation.
  • The collapse of Chasen Cos. underscores the need for corporate accountability to protect employees, creditors, and communities from financial mismanagement.
  • A $5M private jet transfer to a privacy trust raises questions about asset shielding in Chasen Cos.' bankruptcy, adding intrigue to the financial debacle.

Impact - Why it Matters

This news sheds light on the stark disparities in executive compensation versus company performance and creditor obligations, highlighting potential financial mismanagement and ethical concerns. It underscores the importance of transparency and accountability in corporate governance, especially in industries impacting public spaces and community development. The case could set precedents for how creditors and courts handle similar situations, affecting stakeholders from employees to investors and local communities.

Summary

In a shocking revelation, Chasen Companies, amidst financial collapse, continued to pay its founder Brandon Chasen over $21,000 biweekly and top executives up to $9,600 per week, despite lawsuits for unpaid bills. The company's bankruptcy filings disclose a staggering $39.5 million in liabilities against $0 in assets, with revenue dropping from $77 million in 2023 to nothing by 2025. A controversial transfer of a $5 million company jet to a privacy trust, TVPX Aircraft Solutions, has raised suspicions among creditors about attempts to hide assets from bankruptcy proceedings. With Sandy Spring Bank owed $28 million, creditors are pushing to hold Brandon Chasen personally accountable for nearly $30 million in debts. The situation has attracted public scrutiny, especially with abandoned projects littering Baltimore, leading to a scheduled creditors' meeting in August to probe potential financial misconduct.

For more details, READ FULL ARTICLE HERE.

Source Statement

This curated news summary relied on content disributed by citybiz. Read the original source here, Chasen Cos. Collapse: Lavish Pay, $39.5M Debt, and Jet Mystery

blockchain registration record for this content.