Real Estate Developer Mountain Property Heads Into Ch. 11

Law360, New York (April 25, 2012, 8:16 PM EDT) -- California-based real estate developer Mountain Property Development Inc. filed for Chapter 11 bankruptcy Tuesday, listing assets and liabilities between $10 million and $50 million each.

Mountain Property, which is based in Los Gatos, Calif., submitted a voluntary Chapter 11 petition in the Northern District of California.

Though the company has yet to provide the court with a detailed breakdown of its assets and liabilities, it said its principal assets are located in Steamboat Springs, Colo. Mountain Property did not specify the nature of those assets....
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