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Sunwest reaches turning point

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High Five
Wednesday, December 23, 2009

Sunwest Management Inc., a company whose recent history has been plagued with lawsuits and bankruptcy, will soon hit another turning point.

A decision is expected soon on whether Sunwest will be sold or remade as a new "stand-alone" company.

Its cash-flow problems became obvious in 2008 when investors in Sunwest properties stopped receiving payments. This spring, the Securities and Exchange Commission filed a civil lawsuit, alleging securities fraud.

In the fall, Sunwest's tangled collection of related entities were consolidated into a Chapter 11 bankruptcy.

Read the full story at the Statesman Journal.

{biztweet}Sunwest Management{/biztweet}

 
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