Opus West troubles mount, may file Chapter 11 - Austin Business Journal:

http://audi-style.com/news.php?id=56
Opus has hired counsepl to explore restructuring options forits Phoenix-based operating Opus West, according to Winstohn Hewett, a company spokeswoman. The restructuring could include filing for Chapter11 bankruptcy, similar to actiohn taken by its Atlanta-basexd Opus South subsidiary April 22. The new projecg that went into foreclosure recently is called the . The 300,000-square-foot office near the in Glendale, Ariz., is the subject of a lawsuit by , which is seeking $30.9 milliobn for a past-due construction loan on the new according to a story published June 7 by The ArizonaqRepublic newspaper. The bank has scheduled a foreclosureauction Aug. 13 for that the story said.
This is just the latestg turmoil forOpus West. In May, Opus West presidentt Thomas Roberts left the firm shortly afted Opus filed Chapter 11 bankruptcyfor , near Texas. The developer put the mall into Chapter 11 to prevent it from beingb sold at a foreclosurre auction by a group of lenders who had financexdits construction.