Bankrupt Denver Condo Developer Flips Ch. 7 Switch

Law360, New York (November 24, 2010, 5:50 PM EST) -- With pre- and postpetition lender Hypo Real Estate Capital Corp. foreclosing on its overleveraged, 270-unit Denver condo project called the Landmark development, 7677 East Berry Avenue Associates LP has converted its Chapter 11 bankruptcy to a Chapter 7 proceeding.


Judge Michael E. Romero approved the transition Tuesday in the U.S. Bankruptcy Court for the District of Colorado.


The debtors said Nov. 19 that they intended to convert the case in a filing telling the court they had no cash to pursue avoidance actions and...
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