DENVER BUSINESS JOURNAL - Colorado entrepreneur and manufacturing executive Craig Walker and his wife, Susan, said in a federal court filing that they want a federal judge to oversee "an orderly and fair" voluntary Chapter 11 bankruptcy process that will ensure all their creditors, and not just one, are paid in full.
The couple filed their Chapter 11 petition on July 24 in U.S. Bankruptcy Court in Denver, estimating their assets at between $100 million and $500 million and liabilities at between $10 million and $50 million.
One of the largest creditors listed in Walker's petition is Wells Fargo & Co., which is fighting the bankruptcy filing. In a motion filed with the Denver federal bankruptcy court challenging the Walkers' filing, the bank's attorneys characterized the couple's Chapter 11 petition as an effort to "avoid" repayment of a 2002 loan to refinance a downtown Chicago office building.
Wells Fargo is asking that the federal bankruptcy judge "abstain" from the Chapter 11 case to allow other judgments from Illinois and Douglas County courts to move ahead.
Read more at the Denver Business Journal: http://bit.ly/1TZBVrB
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