Cincinnati developer Ray Schneider has filed bankruptcy, and one of the creditors Schneider is engaged in other litigation with is asking for a court-appointed trustee on the matter, the Cincinnati Business Courier reported. Schneider, the president of Circle Development, filed for chapter 11 bankruptcy on March 2 in the U.S. Bankruptcy Court for the Southern District of Ohio, claiming between $10 million and $50 million in assets in a court filing. He also claimed between $100 million and $500 million in liabilities. In a court document listing the 20 largest claims and creditors that Schneider owes, claims totaled more than $177 million, with an additional unsecured claim of over $7.2 million. Circle Development is the eighth-largest commercial real estate development group in Greater Cincinnati, according to Business Courier research. It had 1.36 million square feet of locally owned and developed property in its portfolio in 2022.
