Kevin Morrell, principal with St. Louis developer Green Street, has filed for personal bankruptcy protection listing millions in liabilities tied to the troubled company's projects. The Chapter 7 filing offers further details on creditors of Green Street, which has faced several lawsuits since 2023 and closed its flagship Armory STL entertainment complex in Midtown last year.
In such a bankruptcy proceeding, a debtor's assets are sold to pay debtors, and Morrell listed personal stakes in Green Street entities worth millions of dollars. Creditors often require that developers personally guarantee debt tied to projects.
An attorney for Morrell didn't immediately respond to a request for comment.
Green Street principal Phil Hulse didn't immediately respond to a request for comment, but in the past he's said the company, located in Forest Park Southeast, would continue to operate, and that skyrocketing interest rates led to several layoffs and downsizing since 2022.
The bankruptcy petition shows Morrell as having $5.5 million in assets and $432 million in liabilities. It lists several creditors with secured claims against Morrell, or those against a debtor's property:
The filing also lists non-secured claims, including $2 million from Bank of Washington, $1 million from Michelle O'Toole, and $750,000 from the Mid-America Carpenters Regional Council.
Entities tied to Indiana-based Invesque (OTCMKTS: MHIVF) filed suit in federal court in St. Louis against Hulse and Morrell, saying it is owed more than $1 million.
St. Louis civil and structural engineer Grimes Consulting Inc. in July sued Green Street over more than $36,000 it says is owed for a "Kirkwood Public Works contract" and a "Creve Coeur Mixed Use Contract."
Green Street has put up for sale several of its sites, and said in February that a large manufacturer wants to buy one of its properties on the North Riverfront.
