Thank you for visiting The islander Newspaper Online.

We are currently updating our website to provide you better service and function.
If you would like to access the new site, please, click here: The islander Newspaper

Sorry for any inconvenience. Our new site and service will resume shortly.

Web Master

The Award Winning & Best News on Anna Maria Island, FL Since 1992

"The Award Winning & Best News on Anna Maria Island, FL Since 1992"

Tuesday, Mar, 19, 2024
Florida Press Assn. Award-Winning Web Site
Home Latest News Weather Sports Real Estate Classifieds Island Guide islander Store

 SECTIONS

 • 

Main News

 • 

Classifieds

 • 

Opinions

 • 

Streetlife

 • 

Calendar

 • 

Fishing

 • 

Sports

 • 

Real Estate

 • 

Obituaries

 • 

Weather

 Features

 • 

Cortez Cook Off: The Results

 • 

Anna Maria Island Bridge FDOT replacement bridge

 • 

National Hurricane Center (Atlantic)

 • 

Advanced Search

 • 

I love AMI

 • 

Mystery Story

 • 

Fishing Laws

 Classifieds

 • 

Classifieds Page

 • 

Place An AD

 • 

Items for Sale

 • 

Garage Sale

 • 

Estate Sale

 • 

Announcments

 • 

Lost & Found

 • 

Pets

 • 

Transportation

 • 

Boats & Boating

 • 

Fishing

 • 

Kids 4 Hire

 • 

Help Wanted

 • 

Health Care

 • 

Services

 • 

Lawn & Garden

 • 

Landscaping

 • 

Home Improvement

 • 

Business Opportunities

 • 

Rentals

 • 

Real Estate

 Weather

 • 

Today's Forecast

 • 

10 Day Forecast

 • 

Today's Tides

 • 

Emergency e-mail

 • 

Storm Watch

 Archive

 • 

News Archive

 • 

2009 Top Notch Gallery

 • 

2008 Top Notch Gallery

 • 

2007 Top Notch Gallery

 • 

2006 Top Notch Gallery

 • 

2005 Top Notch Gallery

 • 

2004 Top Notch Gallery

 Useful Links

 • 

Island Links

 • 

i.wed

 • 

islander Store

 • 

About this Site

 Contact Us

 • 

islander Store

 • 

Subscribe

 • 

About Us

 • 

e-mail us

Story Tools

Court places Byrne into involuntary bankruptcy

Just a few years ago, Robert Byrne was one of the leading real estate developers on Anna Maria Island. He and business partner Steve Noriega lived a “jet-set” lifestyle consistent with the booming Island real estate market of the early 2000s.

By their own assessment, they were going to change the face of Island real estate, and in a strange twist of irony, they apparently accomplished their plan.

But the mighty have taken a tumble of late.

In July 2006, Byrne and Noriega placed their company, GSR Development LLC, into bankruptcy (see separate story) and eventually gave up all claims to its alleged $30 million in assets. The bankruptcy left about $6 million in unsecured claims from investors who backed Byrne and Noriega on nothing but their promises.

Two week ago, Byrnes’ financial difficulties got a bit worse.

Federal Judge K. Rodney May placed Byrne into Chapter 7 personal involuntary bankruptcy Dec. 14 following a motion by attorney Steve Berman, representing Islanders and unsecured GSR creditors Kent Davis, Mel and Carol Yudofsky and Patricia Hart. Collectively, the three parties have claims totaling about $1 million, all of which are reportedly backed by the personal guarantee of Byrne.

According to federal court records available on-line, Byrne has apparently agreed not to contest the motion for Chapter 7 bankruptcy. Byrne is represented by attorney Richard Lee in the involuntary petition.

May said he would appoint a trustee in the case at a later date, and set the commencement hearing for 8:30 a.m. Feb. 1, at the Timberlake Annex of the federal court at 501 E. Polk St. in Tampa. That hearing will include a meeting of the creditors and May will fix the various deadlines in the case.

Byrne at one time displayed a financial statement claiming he had a net worth of $42 million.

Get breaking news

Follow the islander on TwitterBecome a fan of The islander on Facebook

Sign up to receive breaking news alerts via e-mail. We'll send you a notice when the news and classifieds appear online every week, before the print edition hits the streets.

Click here for Gulf oil spill updates related to Anna Maria Island.

Historic Anna Maria City Pier Plank Walk

Put your name, your message, your memorial on the Historic Anna Maria City Pier prior to the Pier Centennial Celebration! And join the fun!

CLICK HERE for Stoltzfus e-mails and related court documents.


FREE Island
Vacation Guide:
get it here

Cortez Cookoff

Click here for 2010 Cortez Cookoff Winner and recipes

To advertise here, please
visit our rates page
or contact us at:
sales@islander.org
Phone: (941) 778-7978
Fax: (941) 778-9392

Back to top of Page

Home | Weather | Real Estate | Classifieds | Archives | Contact | Island Links
islander Store | Subscribe About this site | Classifieds Page | Place an Ad
For Sale | Garage Sales | Announcements | Lost & Found | Pets | Transportation
Boats & Boating | Fishing | Kids for Hire | Help Wanted | Health Care | Services
Lawn & Garden | Landscaping | Home Improvement | Business Opportunities | Rentals | Real Estate

Our Privacy and Copyright Statements © 1992 - 2009, The islander