J.T. Turner Files Personal Bankruptcy
Tuesday, April 14th, 2015
Longtime Savannah construction company owner James T. “Jim” Turner Jr. has filed for Chapter 7 bankruptcy, listing personal assets of just over $2 million and liabilities — mostly business-related — of $19.2 million.
Filed Thursday in U.S. Bankruptcy Court for the Southern District of Georgia, the petition names Turner alone as the debtor. Neither Turner’s wife, Shirley, nor their son, J.T. “Tripp” Turner III, are listed.
Chapter 7, also known as Liquidation bankruptcy, is designed for debtors in financial difficulty who do not have the ability to pay their existing debts. Its purpose is to have those debts legally discharged by the court.
