Kansas Senator files for Chapter 7 Bankruptcy

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The state senator at Andover, Ty Masterson (R – Andover) has filed for Chapter 7 bankruptcy protection listing more than $800,000 in unsecured debts. According to Masterson, most of the debts stem from a failed construction business in 2006 called MasterBuilt Homes. He said his failed businesses were due to an employee making unauthorized expenses and bad project mismanagement.

And since he personally guaranteed the debts, he is filing a personal bankruptcy instead of a business bankruptcy.

Please see full article below for more information.

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