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

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Opus has hired counsel to explore restructuring options forits Phoenix-based operatingh company, Opus West, according to Winstoj Hewett, a company spokeswoman. The restructuring could includs filing for Chapter 11 similar to action taken byits Atlanta-basexd Opus East subsidiary April 22. The new project that went into foreclosurw recently isthe . The 300,000-square-fooy office building, near , is the subjecft of a $31 million lawsuir by . The bank has schedulesd a foreclosureauction Aug. 13 for that This is just the latest turmoip forOpus West.
In May, Opus West presiden t Thomas Roberts left the firm shortly aftet Opus filed Chapter 11 bankruptcyfor , near Austin, The developer put the mall into Chapterr 11 to prevent it from beingg sold at a foreclosure auction by a group of lenders who had financed its construction.