ASPEN REAL ESTATE — Five creditors have taken steps to push the owners of the Dancing Bear Residences-Aspen into bankruptcy, just days after a federal judge in Denver dismissed a Chapter 11 filing made by the financially saddled development.On Thursday, an involuntary petition was filed in the U.S. District Bankruptcy Court in Denver, in an effort to place DB Capital Holdings LLC, the Aspen-based owner of the real estate project, into bankruptcy.The unsecured creditors include PGA golfer Fred Funk, who also was an investor in the project. Funk, according to the involuntary petition, is owed $354,166 for marketing and promoting the project.Other creditors include G.D.B.S. at Snowmass Village, which claims it’s owed $54,000 for a lease in Basalt; California-based Realty Financial Resources Inc. ($25,000); William Dennis of Jacksonville, Fla. ($300,000); and architectural firm O’Bryan Partnership of Frisco ($11,132). All told, the sum owed to the five creditors is $744,298, according to the petition.The attorney for the creditors, Jeffrey S. Brinen, did not return a telephone message left at his Denver office Monday.
By Rick Carroll, June 28, 2010 Aspen Times

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