Comments on: Vetro developer files for Chapter 7 bankruptcy http://yochicago.com/vetro-developer-files-for-chapter-7-bankruptcy/8982/ New homes, apartments and condos for sale and rent in Chicago Sat, 20 Mar 2010 21:34:34 +0000 http://wordpress.org/?v=2.9.1 hourly 1 By: iu http://yochicago.com/vetro-developer-files-for-chapter-7-bankruptcy/8982/comment-page-1/#comment-44109 iu Mon, 13 Jul 2009 14:54:44 +0000 http://yochicago.com/south-loop/vetro-developer-files-for-chapter-7-bankruptcy_8982/#comment-44109 im looking to buy a unit in this building since they are the cheapest new building in the area. does anyone know what's the affect when the developer files bankruptcy? im looking to buy a unit in this building since they are the cheapest new building in the area.

does anyone know what’s the affect when the developer files bankruptcy?

]]> By: ab http://yochicago.com/vetro-developer-files-for-chapter-7-bankruptcy/8982/comment-page-1/#comment-44108 ab Mon, 06 Jul 2009 21:41:16 +0000 http://yochicago.com/south-loop/vetro-developer-files-for-chapter-7-bankruptcy_8982/#comment-44108 I'm just curious if anyone knows what implications this may have for current tenants residing in the building? Also, what are some predictions as to how the remaining 10% of unoccupied units be handled? I don't have much of a real estate background, but remember looking into this building during the auction.. I’m just curious if anyone knows what implications this may have for current tenants residing in the building? Also, what are some predictions as to how the remaining 10% of unoccupied units be handled? I don’t have much of a real estate background, but remember looking into this building during the auction..

]]> By: bk guy http://yochicago.com/vetro-developer-files-for-chapter-7-bankruptcy/8982/comment-page-1/#comment-44107 bk guy Wed, 01 Jul 2009 17:32:05 +0000 http://yochicago.com/south-loop/vetro-developer-files-for-chapter-7-bankruptcy_8982/#comment-44107 "Chapter 7 bankruptcy, a route that most likely will lead to liquidation instead of reorganization" It WILL lead to liquidation instead of reorganization. There is no such thing as an involuntary reorganization and Chapter 7 is *always* a liquidation. Might the buyer of the assets continue the business? Maybe, but that's extremely difficult to make work thru a 7, as the business effectively shuts the day of the filing. “Chapter 7 bankruptcy, a route that most likely will lead to liquidation instead of reorganization”

It WILL lead to liquidation instead of reorganization. There is no such thing as an involuntary reorganization and Chapter 7 is *always* a liquidation.

Might the buyer of the assets continue the business? Maybe, but that’s extremely difficult to make work thru a 7, as the business effectively shuts the day of the filing.

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