The filing claims both the LLC’s assets and liabilities are valued between $100,000 and $500,000. The creditors holding the largest unsecured claims include Willoughby Hills Development and Distribution Inc. ($51,696); Trame Mechanical Inc. in Dayton ($29,518); and Parker Behm of Troy ($25,000). The filing said those and other claims are disputed.
There is a judgment lien against the property, prompting foreclosure proceedings, Hoffer said.
The LLC’s California owners want to pay or contest debts “in a proper format” through Bankruptcy Court, Hoffer said. They hope to reorganize and “they do wish to keep the building,” he said.
The building last sold in September 2006 for $300,000, according to the Shelby County auditor’s office. It had been appraised recently at $150,000.
Contact this reporter at (937) 225-7457 or bsutherly@DaytonDailyNews.com.
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