Bankruptcy filing on historic Sioux City building dismissed - KWWL - Eastern Iowa Breaking News, Weather, Closings

Bankruptcy filing on historic Sioux City building dismissed

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(AP) -

A bankruptcy petition filed by a California-based developer of a 12-story historic art deco building in downtown Sioux City has been dismissed.

The Sioux City Journal reports the move paves the way for foreclosure proceedings on the Badgerow Building to resume.

A federal judge in California on Wednesday granted Cedar Rapids Bank and Trust's motion to dismiss the bankruptcy filing by Mako One Corp., of Carlsbad, California.

The bank filed for foreclosure on the Badgerow Building in April, saying Mako, its managing partner Bruce DeBolt and two other limited liability companies defaulted on a $6 million bond agreement to help finance work to renovate the building.

The bank said at the time that it was owed more than $4.4 million.

The Badgerow Building was built in 1933 and is listed on the National Register of Historic Places.

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