Fort Worth homebuilder Village Homes is continuing operations under a reorganization plan after the conclusion of a Chapter 11 bankruptcy filing.
Village Homes filed for bankruptcy in October 2025 following a legal dispute that emerged in 2024 when the builder engaged in a deal to sell 100 vacant lots and the company name to Olerio Homes. The buyer failed to close due to alleged financing issues, putting Village Homes in financial jeopardy.
“Chapter 11 was not a path we wanted to take, but it became necessary to protect the business and the people who depend on us,” Michael Dike, co-founder and president of Village Homes, said in a press release. “We defended the company throughout the process, and the court’s order bears out what we have maintained from the beginning — about the strength of Village Homes, the circumstances that forced us to seek Chapter 11 protection and our ability to come through it successfully.”
Court rulings say that Village Homes is now able to sell the properties and assets from the Olerio deal and that the former buyer does not maintain any rights outlined in the previous sales agreement.
Furthermore, all of Village Homes’ lenders voted in favor of the company’s Chapter 11 reorganization plan, with Worthington Bank Executive Chairman Greg Morse even testifying in support of both the company and the plan.
“The support of our lenders has meant a great deal to us throughout this process,” Dike added, “They understood that this was not a lender-driven filing and that the underlying business was always viable. Their confidence gave us the ability to keep operating, keep building and keep looking ahead.”
While Village Homes continued to build and sell homes during the Chapter 11 process, the company is now free to return to business as usual. The builder will celebrate its 30th anniversary this year.
“We emerged with our company and our relationships intact — exactly as we said we intended to do from the start,” Dike said. “Now we can put our focus back where it belongs: building homes, serving our communities and carrying Village Homes’ 30-year legacy into the next generation.”