Tegethoff Says He Is Still A Developer & Owner On Oasis Project, Clarifies Bankruptcy Filing

LAKE OF THE OZARKS, Mo. — One week after Oasis at Lakeport developers publicly stated they were working to remove Jeff Tegethoff and his companies from the $500 million Lake of the Ozarks project, Tegethoff is pushing back.

In a statement released Wednesday, June 10, Tegethoff Development said the company's recent bankruptcy filing is a corporate reorganization rather than a liquidation and argued that Tegethoff Development Co., LLC remains a contractually named developer for portions of the Lakeport Village project.

The company also challenged recent public statements regarding Tegethoff's involvement in Oasis and outlined its position on ongoing disputes with project partners.

The full press release from Tegethoff Development is below.

ST. LOUIS, MO – June 10, 2026 – Tegethoff Development LLC and Tegethoff Development Co, LLC (collectively, the "Company") issue this statement to address recent media coverage regarding their financial restructuring and clarify their ongoing operational roles.

On June 1, 2026, the Company voluntarily filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Eastern District of Missouri. This strategic restructuring is designed to provide an orderly, court-supervised forum to reorganize assets and liabilities, protect corporate value, and resolve outstanding business disputes.

The Company emphasizes that this process is a corporate reorganization rather than a liquidation. Based on management’s assessment of existing liabilities, the value of the Company’s underlying asset portfolio exceeds its current obligations. While certain assets are subject to ongoing valuation or ownership percentage disputes, and contingent liabilities (including various personal and corporate loan guarantees) remain under review, management is confident in the balance sheet's core strength. Under the protections of Chapter 11, the Company fully anticipates that secured creditors will be paid in full and maintains a strong objective to satisfy all legitimate claims through the reorganization plan.

Clarification Regarding the Oasis at Lakeport Project

In response to recent public statements issued by development partners and subsequent coverage by the St. Louis Business Journal, management is issuing a factual clarification to correct significant mischaracterizations regarding the status of the Company on the Oasis at Lakeport project.

Recent reports cited statements alleging that Mr. Tegethoff is "out" and has been completely removed from the development. These assertions are contractually incorrect. Tegethoff Development Co, LLC remains a contractually designated developer, along with Skyview Hotel Partners, LLC, on both the hotel and conference center and the amusement and water park being developed as part of the Lakeport Village project. Tegethoff Development, LLC remains a significant owner of all the project entities.

While Tegethoff Development, LLC was previously removed as manager of Oasis at Lakeport 1 LLC, one of the entities invested in the Lakeport Village project. It was not communicated to the Company that the basis for its removal had anything to do with alleged misconduct. Instead, the decision was communicated as an exercise of the provision of the Operating Agreement providing that “The Manager of [Oasis at Lakeport 1 LLC] shall be appointed, removed and replaced from time to time by Major Decision Approval”—which approval was effectively a unilateral decision by Fred Ross. The Company explicitly notes the following:

• Background on Allegations of “Misconduct”: Following the management transition, Big T, LLC and its principal, Fred Ross, raised questions regarding project accounting. In response, the Company proactively engaged with Canvas Wealth Advisors and Flint Development to review the books and clarify all accounting structures. Significant progress was being made toward a transparent resolution when Flint unexpectedly terminated its work on behalf of Big T and Fred Ross, abruptly ending this cooperative review process. Contemporaneously, Big Thunder Marine and Fred Ross alleged substantial project cost overruns. However, these claims were made while actively blocking Mr. Tegethoff from participating in or accessing project operations, and no backup documentation or supporting detail was provided to the Company. Furthermore, rather than pursuing a proportional overrun contribution from both of the project's contractually named developers as allowed, Big T and Fred Ross affirmatively refused to seek any contribution from Skyview and demanded, without justification, that Tegethoff Development Co, LLC fund the entirety of the alleged overruns.

• Active Contractual Status: The administrative management transition did not alter, terminate, or impact the underlying development agreements. Tegethoff Development Co, LLC continues to hold these active contractual rights and remains a developer of record for the Lakeport Village projects. Other investors in these projects, including entities controlled (directly or indirectly) by Fred Ross have actively blocked Mr. Tegethoff from performing his duties under the development agreements, and that conduct is the subject of claims included as assets on the Company’s bankruptcy schedules.

• Separation of Disputes: Independent litigation involving an apartment complex in St. Peters, Missouri (Timber Club) involves a completely distinct investor coalition and has no bearing on the contractual rights or execution of the Oasis at Lakeport development.

Statement from Jeff Tegethoff Regarding Lakeport Village

"I am deeply grateful for the incredible outpouring of outreach and support we’ve received over the last week from local officials, business owners, and neighbors who value our commitment to investing in the Lake of the Ozarks," said Jeff Tegethoff regarding the Lakeport Village project. "Their encouragement reinforces why we are fighting so hard for this project and our ability to continue developing other projects in the area."

To safeguard those local investments and establish a transparent forum to resolve partner conflicts, Tegethoff explained that the Company's recent legal restructuring was a necessary business decision.

"Moving Tegethoff Development and Tegethoff Development Co. into Chapter 11 on June 1st was a deliberate, strategic step taken specifically to protect our corporate assets—including our significant ownership stakes in Lakeport Village, LLC, Oasis at Lakeport, LLC and Lakeport Hotel GP, LLC—and to address any outstanding project disputes in an orderly, court-supervised environment," Tegethoff stated. "We are correcting the record because accurate information is vital to our partners, creditors, and the public. While we acknowledge our partners in Lakeport Village may attempt a transition in the future, Tegethoff Development Co, LLC is currently a contractually named developer. We remain committed to seeing all of our projects—including Lakeport Village—reach their full potential."

Tegethoff also shed light on the project’s history, contrasting the current destination-scale resort with the original, far more limited plans proposed by his current partners.

"When Fred Ross originally solicited my help to secure the land for this development and solve an ongoing dispute he had with the Lakewood timeshares, his intention was merely to build a standard condo complex," Tegethoff noted. "The entire concept of an institutional-grade amusement park, waterpark, resort hotel, and conference center—partially financed with development incentives—was entirely our proprietary vision, and we remain uniquely equipped to see it through to a successful completion.”

"It is our strong desire to return to active, collaborative work on these developments," Tegethoff concluded. "Arbitrarily blocking our participation does not just harm our firm—it actively diminishes the ongoing value of the entire Lakeport Village project to the detriment of all investors, lenders, and community stakeholders who bought into our vision.”

The Company intends to continue to oversee its day-to-day operations as a debtor-in-possession throughout the legal reorganization process. Moving forward, the Company does not intend to issue additional press releases or public statements regarding these disputes, electing instead to let its formal bankruptcy court filings serve as its definitive record on all matters.

Lakeport Village History & Execution

The Oasis at Lakeport project is a premier, regional entertainment destination that began as Jeff Tegethoff's original concept. Beyond designing the master vision for the site, Mr. Tegethoff personally brought together all the key partners necessary to make the project a reality—including the City of Osage Beach, the Missouri Development Finance Board, the Lakewood Timeshare HOA, Marriott, Aimbridge Hospitality, Tri Architects, Kolb Grading, SkyView Partners, and Brinkmann Constructors.

Furthermore, Mr. Tegethoff structured and secured the massive, multi-tiered, near-$500 million financial funding package required to launch the development. This involved coordinating everything from public development incentives and bond sales with Stifel, to sourcing private cash equity and securing major institutional loans through X-Caliber Advisors and CastleGreen Finance.

About Tegethoff Development

Tegethoff Development is a premier real estate development firm specializing in institutional-grade commercial, residential, and mixed-use projects. Known for its strategic vision and execution, the firm focuses on creating long-term value for communities and investors alike.