DILICK: PAY NO ATTENTION TO CHAPTER 11 A well-timed bankruptcy filing earlier this week by the entity that owns Wilshire Village did in fact prevent the almost-8-acre vacated property at West Alabama and Dunlavy from foreclosure: “Matt Dilick, whose name is listed on the Secretary of State’s web site under registered agent for Alabama & Dunlavy Ltd., said his role is that of development manager. His company, Commerce Equities, ‘is proceeding with its development plans on the property and continues to market the property,’ Dilick said. He recently told me that the property was being offered for sale, but there was a chance he’d still build something on the land.” [Prime Property; previously on Swamplot]
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i am fairly certain that single entity real estate companies face a so-called “fast track” bankruptcy process, so expect more news sooner rather than later.
i dont know what “fast track” means, but is is not the 12-18 months in the corporate world.