Reardon files for Chapter 7 bankruptcy

Michael A. Reardon, whose American marine industry shopping spree included Catalina, True North, Tartan, Freedom and AMP Spars, has filed for personal bankruptcy protection, reporting more than $3.8 million in debts and approximately $574,000 in assets, most of which consisted of his home.

Catalina Yachts Inc. is among the largest creditors identified in Reardon’s bankruptcy schedules, with a listed unsecured claim of $1,778,990.15. The claim follows litigation involving the attempted acquisition and operation of the boat manufacturer.

The Chapter 7 bankruptcy filing on September 30, 2026 establishes the debts and assets Reardon reported when he sought protection from creditors. The bankruptcy process will determine what property, if any, can be used to satisfy those obligations and whether Reardon ultimately receives a discharge of eligible debts.

To read the bankruptcy filing, click here.