Louisville homebuilder and developer McStain Enterprises Inc.’s Chapter 11 bankruptcy case has been dismissed.
In an order Tuesday, Chief Judge Howard Tallman said that even though the case is dismissed, the builder still must report its financial status to creditors each month. McStain last month requested that the case be dismissed.
It was unclear specifically why McStain asked that the case be dismissed. The company did not return a message Thursday afternoon.
The bankruptcy court will keep limited jurisdiction over McStain to make sure the company pays professional fees and other expenses related to the bankruptcy filing.
McStain filed for bankruptcy in May. At the time of the filing, the company employed 17 people, down from 30 the previous August.
The largest unsecured creditor named in the filing is Westmont, Ill.-based Scheer’s Inc., which wrote $10.85 million in bonds on the company’s behalf to guarantee infrastructure improvements to its subdivisions.
Other creditors include Key Bank, which is owed $3 million; CRE400 Centennial LLC-Cres tone, $2 million; and William and Associates of Boulder, $1.54 million.
Margaret Jackson: 303-954-1473 or mjackson@denverpost.com
