Williston-West Condominiums, at 32 Thomas St. in Portland's West End, filed for bankruptcy under chapter 11 of the Bankruptcy Code one hour before the scheduled foreclosure auction on Feb. 15th. The first priority mortgage holder on the property, Coastal Realty Capital LLC, represented by Drummond Woodsum’s Jeremy Fischer, has asked the Bankruptcy Court to dismiss the case so the foreclosure auction can proceed. The motion argues that the bankruptcy petition is unnecessarily delaying the inevitable auction sale of the property. For now, the foreclosure auction is on hold until the there is a decision by the court.
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