The owner of the Miami Beach mansion that was once home to Gianni Versace placed the luxury property in bankruptcy protection last week to head off a foreclosure attempt, the Wall Street Journal reported yesterday. Casa Casuarina LLC’s chapter 11 filing on July 1 blocked the foreclosure attempt by mortgage holder VM South Beach LLC, which is owned by the family that created the Jordache Jeans brand. The filing also thwarted VM South Beach’s bid for a receiver to take over the Ocean Drive property, although VM South Beach immediately sought an independent bankruptcy trustee.
