Reports: Developer Jeff Tegethoff Files for Chapter-11 Bankruptcy Protection

Reports are surfacing about a St. Louis area developer, once a key figure in the future $500-million Lakeport at Oasis project in Osage Beach, filing for Chapter-11 bankruptcy protection.

Online stories appearing in the St. Louis Business Journal, Bloomberg Law News, LakeExpo.com and others are saying that Jeff Tegethoff filed the bankruptcy petition on Monday in U.S. District Court.

The filing comes after previous reports about Tegethoff being named in a $13 million suit filed by investors in Indiana claiming that funding for a project in St. Peters, Missouri, was used for unrelated business and personal expenses…a claim Tegethoff has denied.

A statement issued by the Lakeport development group, published by LakeExpo, also says that Tegethoff and his affiliated companies had previously been removed as manager of the Lakeport project with an effort now underway to legally remove Tegethoff Development from the project altogether.

Despite the development, sources cited in the reports also claim that the project in Osage Beach will not be affected.

Chapter-11 bankruptcy is a protection to ward off creditors so the filing company can continue to operate while trying to work out payments and other associated activities.

This is a developing story and KRMS News will reach out to the different parties involved including the City of Osage Beach to report on any more information being made available.