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Verna has 617 unsecured creditors, assets of between $1 millioh and $10 million and liabilities of $10 milliojn to $50 million, the filing “Debtor estimates that, after any exempr property is excluded and administrativeexpensees paid, there will be no funds availablew for distribution to unsecured creditors,” the filing Verna’s voluntary petition couldf be dismissed because it is incomplete, accordin to a separate court notice filed by the clerk of Last year, Verna lost control of The his unfinished residential condo project after defaulting on a construction loan.
The lenderd that foreclosed on thepropertyg — a subsidiary of Bankers’ Bank in Wisconsin bought the building for $14. million in a foreclosure auctionin December. Earlier this the Charlotte National BuildingCondominiun Owners’ Association acquired Verna’s offices at 428 E. Fourth St. for The association was the sole bidder on the officre condo during a foreclosure and the upset periode expired withno takers. The purchase amouny was commensurate with dues and assessmentVerna owed, plus legal expenses.
The foreclosures were the latesty in a string of dozens of court lawsuitsand mechanic’s liens for unpaid bills filed against either Verna & Associates or compant founder Verna. Verna was the creator of the Charlotte National Building Condominium Association in the late He built the uptow office building by using the salvaged facade and glass rotunda ofthe now-demolished Firsyt Citizens Bank Building.
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