Which realty business in Nantucket is being forced into involuntary bankruptcy?”
Five of the nine subcontractors suing PB Realty Holdings, LLC, filed a Chapter 7 involuntary bankruptcy claim yesterday against Bob Matthews, the owner of the Point Breeze Hotel now in foreclosure proceedings. The subcontractors seek $2,349,159.20. The five creditors listed on the involuntary petition filed in the Massachusetts District of the U.S. Bankruptcy Court and their individual amounts owned to them include Atlantic Landscaping, Inc. of Nantucket, Mass.; $134,839.16, Shepley Wood Products of Hyannis, Mass.; $217,275.86, Northstar Electrical Construction Corporation of Marlborough, Mass.; $286,806, REMSCO, INC. of Plainville, Mass.; $651,768 and IMEC, Inc., of Ayer, Mass.; $676,650. Attorney Michael J. Fencer of the Boston, Mass. firm, Jager Smith, P.C. who is representing these subcontractors, said that his clients are after the money owed them by PB Realty Holdings, LLC as well as the balances for Marine Lumber of Nantucket, Mass., the Waterproofing Company of Boston, Mass., R
A small group of creditors has filed against PB Realty Holdings in Nantucket into involuntary bankruptcy proceedings. The creditors have filed the Chapter 7 claim against PB Realty Holdings LLC of Easton Street in Nantucket. Most of the creditors are companies involved in the building trades. They say that they are owed more than $2 million.
A small group of creditors has filed to put a Nantucket realty business into involuntary bankruptcy proceedings. The creditors — most of them are companies involved in the building trades — filed the Chapter 7 claim against PB Realty Holdings LLC of Easton Street in Nantucket. They maintain they are owed more than $2 million. The creditors are represented by Michael J. Fencer of Jager Smith PC in Boston. PB Realty Holdings is not listed in the filing as having an attorney. Chapter 7 proceedings are used to liquidate the non-exempt assets of an entity. The proceeds are distributed among creditors.
