Hemmeter, wife
file for bankruptcy
The former isle developer
By Russ Lynch
lists debts of $87 million and
assets of $720,000Star-Bulletin
Christopher B. Hemmeter, known for his development of luxury Hawaii resorts and later ill-fated ventures in New Orleans gambling, has filed for personal bankruptcy. Hemmeter and his wife, Patricia, filed in Los Angeles under Chapter 7, which calls for a sell-off of all personal assets to pay debts.
Court records available by telephone today did not disclose assets and liabilities.
A New Orleans newspaper, the Times-Picayune, yesterday quoted Hemmeter as confirming that he has debts of $87 million and assets of around $720,000.
Neither Hemmeter, who lives in Los Angeles, nor his Los Angeles attorney could be reached today.
Hemmeter started out in the restaurant business in Honolulu and later went on to form partnerships and develop resorts such as the former Hyatt Regency Waikoloa and the Westin Kauai for hundreds of millions of dollars each.
Hemmeter, who moved to the mainland in 1990 to be nearer new investment opportunities, appeared relatively unscathed by the drop in values in Hawaii.
But his move into the New Orleans gambling scene in 1992 was to prove his undoing. With partners, Hemmeter lined up deals and gambling licenses. In mid-
1995, a $223 million riverboat operation he had invested in was shut down because it couldn't pay its debts.
He had the site for the first land-based casino in the city and moved with a partner to develop a $1 billion complex but couldn't get the gambling operating rights. That led to a minority partnership with the operator, Harrah's Jazz Co., but a temporary casino closed after less than seven months in 1995, leaving the partners broke.
