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.
Project Description
Appointed as Trustee to take control of the assets to maximize return to the lien holders.
Scope of Work
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.
Project Resolution
The Trustee presented written testimony to the bankruptcy court and was discharged from further action on the matter.
Project Name
GCIC Development Corporation
Client
United States Bankruptcy Court, Southern District of California
Location
OK, AZ
