Duke Investments LLC Files for Chapter 11 Bankruptcy
On June 12, 2013, Duke Investments, LLC, of 300 Tarentum Bridge Road, New Kensington, PA 15068, filed a voluntary Chapter 11 Bankruptcy Petition in the United States Bankruptcy Court for the Western District of Pennsylvania, Case No. 13-22509. The Debtor is owned by John Coutlakis and John Hareras.
The case was designated a “small business case” pursuant to 11 U.S. C 101(51(D). The summary of schedules discloses assets worth about $41,900 and debts totaling $399,591, most of which consisted of taxes ($190,000 to the IRS and $85,000 to the Pennsylvania Department of Revenue). The Debtor also scheduled several unsecured debt obligations to WesBanco and First Commonwealth Bank.
From the list of the Debtor’s executory contracts, it appears as though this Debtor operated several coffee shops in the area, Robinson Court, The Frick Building, and Bridgeville.
The Debtor is represented by Mr. Richard R. Tarantine, Esquire, 437 Grant Street, Suite 416, Pittsburgh, PA 15219, 412-321-5229, Email: firstname.lastname@example.org. Mr. Tarantine disclosed an hourly rate of $250/hour and a pre-petition compensation around $8,000.
The docket can be found here.
Posted on June 13, 2013, in Chapter 11 Debtors, New Chapter 11 Filings, PA Chapter 11 Debtors, Pittsburgh, small business debtor cases and tagged back taxes, bankruptcy, bridgeville, chapter 11, first commonwealth, investments, irs, kraemer duke, mazur, PA, pittsburgh, reorganize, salene, taxes, turnaround, wesbanco, WV. Bookmark the permalink. Leave a comment.