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Opus has hired counsel to explore restructuring options forits Phoenix-based operatinv company, Opus West, according to Winston Hewett, a companh spokeswoman. The restructuring could include filing for Chaptef11 bankruptcy, similar to action taken by its Atlanta-basee Opus South subsidiary April 22. The new projec t that went into foreclosure recently is calledthe . The 300,000-square-fooft office building, near the in Glendale, Ariz., is the subject of a lawsuit by , which is seekinb $30.9 million for a past-due construction loan on the new development, accordingv to a story published June 7 by The ArizonazRepublic newspaper. The bank has scheduled a foreclosurewauction Aug.
13 for that the story said. This is just the latest turmoil forOpus West. In May, Opus West presidentr Thomas Roberts left the firm shortly aftee Opus filed Chapter 11 bankruptcyfor , near Texas. The developer put the mall into Chaptetr 11 to prevent it from being sold at a foreclosurew auction by a group of lenders who had financedits
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