A bankruptcy estate consisting of multiple properties in Oklahoma including a six story, 26 unit office building; a 24 key hotel; a two story 18,000 square foot commercial property; and a bank. The estate also included a residential property in Phoenix, Arizona.
Appointed as Trustee to take control of the assets to maximize return to the lien holders.
After an in depth review of the assets located in Oklahoma, including interviewing various stakeholders, local brokers and business leaders, it was determined that the recovery on the assets would not yield sufficient income to the estate to warrant further attempts at recovery.
The Trustee presented written testimony to the bankruptcy court and was discharged from further action on the matter.
GCIC Development Corporation
United States Bankruptcy Court, Southern District of California
Douglas Wilson Companies was founded in 1989 to provide a wide range of specialized business, workout, and real estate services to law firms, state and federal courts, corporations, partnerships, pension funds, REITs, financial institutions, and property owners throughout the United States.
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