Bankruptcy Protection Sought for Partnership’s Santa Ana Building
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A limited partnership partly owned by former Orange County developer Robert A. Ferrante is seeking bankruptcy protection for a four-story office building in Santa Ana.
OCPC Ltd. in Torrance made its Chapter 11 filing in U.S. Bankruptcy Court in Santa Ana on Dec. 30. A hearing is scheduled for March 17.
The Southern California International Brotherhood of Electrical Workers’ pension fund holds the first deed of trust to the 127,000-square-foot red brick building at 801 Civic Center Drive West and is owed $19 million by the partnership, said attorney Lloyd Segal, who is representing the partnership. Tenants in the building include the Santa Ana Chamber of Commerce, several law firms and some Orange County offices.
Ferrante, 43, once owned Consolidated Savings Bank in Irvine, which failed in 1986. He was acquitted last year of criminal charges in a bank fraud case filed by the FBI.
On Dec. 13, Ferrante filed for personal bankruptcy, listing debts of $24.2 million and assets of only $777,300.
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