89°F
weather icon Partly Cloudy

Bankruptcy court OKs sale of Boulder Inn, trailer park

The sale of the Boulder Inn and Suites at 704 Nevada Way and the trailer park at 1501 Nevada Highway was approved by bankruptcy judge August B. Landis on Dec. 2 in a Las Vegas courtroom.

The Boulder Inn and Suites, owned by AMC Property Holdings, was sold to Balbir Gosal in the amount of $1.51 million, while the mobile home park owned by Stanley K Holdings was sold to RPS Homes Inc. for $1.4 million.

Gosal and Schams outbid multiple companies to gain ownership of each property. Gosal outbid the Pioneer LLC, whose bid was $1.5 million. Schams outbid Boulder Dam Credit Union, which submitted a bit of $1.375 million.

Teresa Pilatowicz, a member of the business restructuring and bankruptcy department of the law firm Garman Turner Gordon LLP, said both payments — as well as the original Boulder Dam Credit Union 2010 loan to Anneliese Caruso for just under $3.7 million — are being held by the trustee pending further court decisions about who should receive that money.

Greg Garman, who represented the debtors in this case, informed the court that Caruso filed an individual Chapter 13 bankruptcy proceeding the morning of the hearing.

It was unclear to Garman if the filing would have anything to do with stalling the court proceedings because Caruso no longer has any ownership over what was being sold.

Landis agreed, saying, "The court's aware and has been made aware of the filing by Ms. Caruso. It was a Chapter 13 voluntary petition filed by John E. Field of Field Law Firm. I'm aware of it, but in the context of this motion, i'm uncertain that — if at all — it impacts my ability to resolve the sale motion."

Gosal, who resides in Northern Nevada, owns a chain of motels in Reno, while RPS Inc, is owned by Boulder City resident Randy Schams.

Landis ruled that both properties were clear of liens, and purchases were executed without collusion and made in good faith.

"The sales are the right remedy for what's at stake," he said.

Boulder Dam Credit Union representatives were at the hearing to try to delay the sale in hopes of retaining the property, but Landis said that with all evidence presented, the sales of both properties would go on as planned.

There was a third agenda item in the two bankruptcy hearings that came unexpectedly. All parties involved requested that the Las Vegas-based Norton Consulting and Investigators be retained to provide security at the hotel property.

Garman said he spent "a holiday morning" evicting an operating company at the 113-room hotel. Originally, a management company had signed a lease after the owners filed for bankruptcy to continue operations at the hotel.

Garman said the "insider management company" didn't comply with that lease, and he was required to evict the firm. Bankruptcy court trustee Brian Shapiro then took possession of the Boulder Inn and Suites with the help of marshals in Boulder City, according to Garman.

"It was immediately necessary for all assets to be protected," Garman said. "There have been a number of incidents. This is a case in which motorcycle gang problems and others are in its history."

Two separate invoices, in the amounts of $5,800 and $7,069.71, were to be paid to the security company.

— Contact reporter Randy Faehnrich at rfaehnrich@bouldercityreview.com or at 702-586-9401. Follow him on Twitter @RandyFaehnrich.

MOST READ
THE LATEST
City does U-turn on parking

Last week, the city posted on its social media outlets an invitation to the public to attend an open house May 19 to discuss its plans for parking along Nevada Way between Wyoming and Arizona streets. The plan called for parking in the center of the street.

Memorial Day events set for cemetery

The Southern Nevada Veterans Memorial Cemetery will again host a ceremony to honor those who have lost their lives in service for the country whether it was during times of peace or wartime.

Robotics team scales high in 2025

The Boulder City High School High Scalers robotics team (AKA Team 3009) recently wrapped up another winning campaign with some big awards.

Thomas reports on strategic plan at council meeting

The new city manager’s first public presentation in a city council meeting was about kind of old news — an update on the five-year strategic plan that was approved by the council in October of last year. The plan covers the years 2025 through 2030.

Council hears update on FY 2026 budget

The months-long process of adopting a city budget for the 2026 fiscal year took another big step forward last week as Budget Director Angela Manninen presented the city council with adjustments that had been made since the preliminary budget was first presented. Fiscal year 2026 begins on July 1.

Grad Walk: A decade of memories

In just a decade it’s become a tradition every senior at Boulder City High School looks forward to, as do public school students who will one day do the same.

Parking town hall scheduled

Mayor Joe Hardy led off this week’s city council meeting with an unexpected statement regarding an item that was not on the agenda. At least not until next week.

Meet BC’s new city manager

Even people with a long history in Southern Nevada get sticker shock when they start to consider a home in Boulder City. And Boulder City’s new city manager is no exception.

A step back in time

Photos by Ian Cruz/Boulder City Review

LMNRA extending popular launch ramp

Those looking to get in some boating time this summer may have to wait a bit longer each time when doing so.