Posted on June 17th, 2010
An older Milwaukee office building, The Underwriters Exchange Building, is for sale after it was foreclosed upon last week. The eight-story, thirty-seven thousand square-foot building was built in 1924. Located on 828 North Broadway, it is on sale for over $1.6 million by Wangard Partners. The building has an occupancy rate of only 37 percent.
The Underwriters Exchange Building has been targeted by banks before for foreclosure. Associated Bank filed a foreclosure lawsuit against the building in 2008. A Milwaukee investment group who guaranteed a loan to the bank gave them $1.5 million. The bank has used some of that money to hire the company that is selling the property.
If you or someone you know is facing foreclosure, contact the Milwaukee foreclosure defense lawyers of the DeLadurantey Law Office, L.L.C. by calling 414-377-0518.
Posted on June 10th, 2010
When Carver Yachts, makers of world class yachts, filed for bankruptcy last year, yacht production stopped for months. However, early this year, they started production again under new management and a new name. Marquis Yachts, located in Pulaski, Wisconsin, was awarded a $1.5 million loan from the Community Development Block Grant program to get their feet back on the ground.
Marquis Yachts say they plan to hire back 315 new workers.
If you or someone you know is considering filing for bankruptcy, contact the Milwaukee bankruptcy lawyers of the DeLadurantey Law Office, L.L.C. by calling (414) 377-0518.
Posted on June 9th, 2010
Interiors and electronics company, Visteon, has filed for bankruptcy and is refusing a competitor’s attempts to buy out parts of its business for $1.25 billion. Milwaukee-based company, Johnson Controls, has publicly expressed a high interest in purchasing two of Visteon’s three business units. Visteon refuses Johnson Controls’ offer on the grounds that the business venture would have a negative impact on their creditors. Visteon also notes that if they sold the two business units to Johnson Controls, Visteon’s equity holders would be unable to recover. However, Johnson Controls claims that their stake in the company would prove valuable for Visteon equity holders.
Visteon shareholders have argued for Johnson Controls, saying that the generous $1.25 billion offer could leave the company’s shareholders with a recovery. As a result of this, Visteon has asked Johnson Controls to cease communication with their customers, claiming that it could damage their relationship with important clients.
If you are considering filing your business for bankruptcy, contact the Milwaukee Chapter 7 bankruptcy lawyers of the DeLadurantey Law Office, L.L.C. by calling 414-377-0518.
