Creditors try forcing Laughlin developer into bankruptcy

Tuesday, Aug. 21, 2001 | 10:41 a.m.

Creditors of a company planning to develop a time-share resort near Laughlin have initiated a Chapter 7 involuntary bankruptcy action in U.S. Bankruptcy Court in Las Vegas.

Biltmore Vacation Village LLC, which in May 1999 announced plans for a 264-unit development in Bullhead City, Ariz., was named in the bankruptcy petition by three creditors, investors Roger Bruce, Helen D. Bruce and Richard Gralinski.

Also listed as debtors in the petition are Biltmore subsidiaries Sage Design Builders Inc. and Dynamic Design Architecture Inc., which apparently designed, built, financed and operated time-shares, hotels, offices and houses.

The petition, filed Aug. 1, listed Biltmore's assets as an undisclosed amount of raw land near Bullhead City and an office suite at 2110 E. Flamingo Road. The company's telephone number is not in service.

In the petition, Gralinski said he had invested $250,000 in the company, while Roger Bruce listed an investment of $137,500 and Helen Bruce, $80,000.

The case will be heard by Judge Robert C. Jones.

In addition to the apparently failed time-share development, Biltmore was involved in an unsuccessful effort to acquire the St. Tropez All Suites Resort Hotel, 455 E. Harmon Ave.

Biltmore signed an agreement March 4, 1999, to buy the hotel for $30 million from Meristar Hospitality Corp., but the deal collapsed June 1 when Biltmore deposited only $400,000 of a contracted $1.1 million in escrow.