weather icon Clear

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.

Don't miss the big stories. Like us on Facebook.
Grant to help centralize area’s adventures

Boulder City will get one of two “adventure centers” in Nevada after the U.S. Commerce Department awarded a $3.7 million grant to the state.

Plan for RV park moves forward, council discusses future projects

The Boulder City Council discussed their upcoming projects, a proposed RV park and cabin rental and introduced a controversial new bill during their meeting Sept. 27, 2022.

BCR’s staff receives 6 first-place awards

The Boulder City Review was recognized for outstanding work during the past year in the Nevada Press Foundation’s Awards of Excellence, which were presented Saturday in Las Vegas.

National Night Out returns

After a two-year hiatus, the National Night Out event is back in Boulder City with the return of the fan-favorite softball game that this year will be between the city’s police officers and firefighters.

Lake gets slight boost, but drier times ahead

After falling more than 27 feet since the start of the year, Lake Mead got a bit of a bump thanks in part to the August monsoon season.

Chamber endorses plan to split up CCSD

Boulder City Chamber of Commerce is one of six Southern Nevada chambers of commerce that endorsed the Community Schools Initiative that would split up the Clark County School District if voters approve it in 2024.

Rehabilitation helps with illnesses, injuries

Rehabilitation is care that can help you get back, keep or improve abilities that you need for daily life. These abilities may be physical, mental and/or cognitive (thinking and learning). You may have lost them because of a disease or injury, or as a side effect from a medical treatment. Rehabilitation can improve your daily life and functioning.