Tuesday, March 1, 2011 | 1:55 a.m.
Sun Coverage
Business bankruptcies continue to pile up in Southern Nevada, with two contractors among the latest firms to seek protection from creditors.
Direct Grading & Paving, in a filing signed by its president Melvin Westood, filed for Chapter 11 restructuring in U.S. Bankruptcy Court for Nevada on Monday.
The company said assets and liabilities each range from $1 million to $10 million.
Key creditors include Bayview Loan Servicing of Miami with a disputed claim of $2.9 million and City National Bank, owed more than $1.6 million.
City National assumed the loans at issue when Las Vegas-based Sun West Bank failed last year.
Separately, Summit Fire Protection Inc., doing business as Mojave Fire Protection, filed for Chapter 7 liquidation last week. It listed about $31,000 in assets against liabilities of about $83,000.
Debora A. Abadie is listed as president of that company.
Another bankruptcy filing last week involved Pair-A-Dice Mobile Home Park LLC at 2067 Las Vegas Blvd. N. in North Las Vegas, near Lake Mead Boulevard.
That company, with 131 home spaces and headed by investor Peyman Masachi, filed for Chapter 11 reorganization and listed assets of about $3.5 million with debt of nearly $3.3 million.
Union Bank of California in Brea, Calif., holds a $3.25 million deed against the property, the bankruptcy filing says. The company filed for bankruptcy after it was sued by Union Bank, which alleged breach of contract.
Earlier this month, Masachi's Echo Trailer Park LLC also filed for Chapter 11. It owns a mobile home and trailer park at 1322 S. Mojave Road, near Charleston Boulevard and Pecos Road.
Separately filing for Chapter 11 last week was 5875 S. Rainbow Blvd Restaurant LLC, doing business as Mama Leonie Ristorante. The business is near Russell Road.
The filing, signed by manager Omar Haddad, said the business has assets ranging from $50,000 to $100,000 against liabilities of up to $50,000.
That business is licensed by Clark County as a supper club.
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