DuMont filed for bankruptcy this week

On Monday the three related entities that developed The DuMont condominiums voluntarily filed prepackaged bankruptcy cases in Delaware. Read the full details at Netdockets’ Corporate Restructuring & Bankruptcy Blog.

It certainly appeared that foreclosure was a forgone conclusion. Perhaps that they’ve finally made it official suggests a transaction to another party is closer to being realized.

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    after reading the Netdockets link, you’ll see that it is a pre-packaged bankruptcy. the senior debtors will likely get their money back on the loan. mezzanine or junior debtors, not so much. it was interesting to see some numbers…$100M for 425 Mass, the condo piece of the complex.