http://selhoz.org/wiki_baklazhan.html
SJ Properties Suites Buyco EHF, whichg includes an investor from Reykjavik, Iceland, filed the petition Monday in Milwaukee CountyCircuit Court. Judge Mel Flanagan schedule d a hearing for June 30 on a motioj to appoint Milwaukee attorney Seth Dizardc asthe receiver. Work stopped in Decemberr 2008 onthe high-rise at 1150 N. Water Streegt when the construction manager and developerf DOC Milwaukeebecame insolvent, according to the receivership The Icelandic investors said that in Novembe r 2006 they provided an advancs of $17.4 million for a 120-room extendede stay hotel and at least 18 luxury condos. The project also received $13.
4 millioh in financing from a unit ofin Atlanta, which in May was placer in receivership by the FDIC. The Milwaukee receivership petitionn said the property on Water Street alreadyhas furniture, flooringy and fixtures in the Staybridge portion of Liens against the project total more than $3.4 according to the receivershipo petition. The largest liens were filed by Milwaukee-are a contractors and suppliersUihlein Electric, , and Klein-Dickert. SJ Propertiesx recently sued DOC Milwaukee and Economou Partnersin U.S.
District Court in Milwaukee claiming a fraudulent transfef of funds intended for the WaterStreet
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