Jennings Strouss Appointed Debtor Counsel in Mortgages Ltd. Bankruptcy

7.8.08

Jennings Strouss Member, Carolyn Johnsen, was appointed as debtor's counsel in the Mortgages Ltd. bankruptcy after Greenberg Traurig was asked to resign.

Mortgages Ltd, one of Arizona's largest private equity commercial real estate lenders, filed for reorganization under Chapter 11 in June 2008 after Grace Communities filed a petition in an attempt to force the lender into Chapter 7 bankruptcy. The filing came weeks after the death of the lender's chairman and sole shareholder, Scott M. Coles.