The largest creditor of a foreclosed Beverly Hills mansion asked a bankruptcy court to dismiss the property owner’s Chapter 11 bankruptcy, arguing that it was filed in bad faith and lacks any realistic chance of reorganization.
LA Buyer LLC, the secured lender for the property owned by 620 Arkell Drive House LLC, claimed the owner of the hilltop home filed for bankruptcy solely to halt foreclosure on the property—not to reorganize, according to a motion filed Monday in the US Bankruptcy Court for the Central District of California.
The lender contended that 620 Arkell Drive has “no meaningful ongoing business,” ...
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