ASPEN REAL ESTATE – A judge has dismissed the Dancing Bear Chapter 11 bankruptcy filing, concurring with the objections of partners in the stalled development that the project manager did not have the right to file for bankruptcy protection.In a ruling issued Monday morning in U.S. Bankruptcy Court in Denver, Judge Michael E. Romero granted a motion to dismiss filed by Aspen HH Ventures, an Illinois LLC with a $6 million investment in DB Capital Holdings, the entity formed to develop the downtown Aspen fractional ownership condo project.Relations between Aspen HH Ventures and project manager Tom Divenere have soured since the Dancing Bear lost financing last summer and halted construction on the second building of the two-phase project. Phase one opened last February across from Wagner Park with nine luxury fractional ownership condos and the restaurant Brexi.
By Curtis Wackerle, June 22, 2010, Aspen Daily News

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