Naked City

Is He or Isn't He Broke?

Developer Gary Bradley insists he's broke, but a Travis Co. judge this week refused to reduce his child-support payments of $4,800 per month. The ruling could strongly influence his bankruptcy case, in which Bradley is trying to win a discharge of his debts, specifically the millions of dollars -- estimated between $70 and $100 million -- he owes the federal government on failed bank loans, and another $4 million due in unpaid taxes. The prevailing theory among those on the opposite side of Bradley's legal and financial battles is that while his personal bank account may be modest, he nevertheless has had ready access to funds through various entities controlled by family members and close friends. A ruling in the bankruptcy case, expected in mid-October, may turn on the mysterious Lazarus Exempt Trust, which Bradley's sister established and controls with Bradley as the sole beneficiary. The trust owns prime undeveloped property at Circle C Ranch in Southwest Austin. Bradley's bankruptcy filings show he owes the trust more than $273,000.

Beyond his legal troubles, however, Bradley is apparently still doing what he does best -- brokering land deals. Simon Property Group, the world's biggest mall developer, is talking to Bradley about the possibility of developing a mall near Buda -- "on property that Mr. Bradley controls," Tom Schneider, a senior VP at Simon, told "Naked City" this week. Schneider said that while Simon decided against entering into a 50-50 partnership with a Bradley-related entity on a combined residential/mall development, the company is still interested in developing a portion of the land. Schneider said Simon will make an announcement soon pertaining to its future development activities in Austin, but he would not elaborate. Bradley did not return a phone call seeking comment.

  • More of the Story

  • Naked City

    Headlines

    Naked City

    Austin Stories

    Naked City

    Beyond City Limits

    Naked City

    Happenings

    Naked City

    Mark Rose's multifaceted career has taken him from the Austin City Council to the Lower Colorado River Authority, to Public Strategies Inc., to solo consulting, to his latest stopover at the Bluebonnet Electric Cooperative in Giddings, east of Austin.
  • Naked City

    Last week Austin Congressman Lloyd Doggett took the House floor to strongly oppose the Bush administration's drumbeat for unilateral military action against Iraq.

    Naked City

    State District Judge Scott McCown leaves the bench Sept. 20 to become the executive director of the Center for Public Policy Priorities.

    Naked City

    Jurors spent week four in the capital murder trial of Yogurt Shop Murders defendant Michael Scott considering DNA evidence and testimony from several of Scott's high school friends.

    Naked City

    An attorney for Lacresha Murray and her grandparents and siblings filed suit in federal court claiming a litany of civil and constitutional violations stemming from Murray's 1996 arrest and subsequent three-year incarceration.

    Naked City

    File Waco Tribune-Herald publisher Rowland Nethaway's Sept. 9 Statesman column under the category, "Dead on Arrival.

    Naked City

    Houstonian Billie Carr, a longtime Democratic Party activist and dedicated organizer for the liberal wing of the party, dies from a stroke.

A note to readers: Bold and uncensored, The Austin Chronicle has been Austin’s independent news source for almost 40 years, expressing the community’s political and environmental concerns and supporting its active cultural scene. Now more than ever, we need your support to continue supplying Austin with independent, free press. If real news is important to you, please consider making a donation of $5, $10 or whatever you can afford, to help keep our journalism on stands.

Support the Chronicle  

READ MORE
More by Amy Smith
Well-Behaved? Let's Assume Not.
Jacqueline Bouvier Kennedy Onassis: The Untold Story
Barbara Leaming's new biography makes the case that Jackie O suffered from PTSD

Nov. 28, 2014

Section 8 Reopens
Section 8 Reopens
Hurry up ... and wait!

Oct. 3, 2014

KEYWORDS FOR THIS STORY

Gary Bradley, Lazarus Exempt Trust, Circle C Ranch, Simon Property Group, Buda, Tom Schneider

MORE IN THE ARCHIVES
NEWSLETTERS
One click gets you all the newsletters listed below

Breaking news, arts coverage, and daily events

Can't keep up with happenings around town? We can help.

Austin's queerest news and events

Updates for SXSW 2019

All questions answered (satisfaction not guaranteed)

Information is power. Support the free press, so we can support Austin.   Support the Chronicle