In our chronicles about bankruptcy that has caught on like wildfire in the Us, the real estate and the properties sector seems to occupy pride of place as there are so many companies that seem to be biting the dust in recent times. The latest to go in for Chapter 11 bankruptcy filing is DeWoskin Properties which wants to go in for reorganization on the financial front. It is also putting up on sale three commercial buildings. The southwest Bank has refused to renew loans on these properties which have led to DeWoskin Properties being forced to file for bankruptcy under Chapter 11 of the Bankruptcy Law.

DeWoskin Properties is owned by Tom DeWoskin who hopes to have a lot of time to sell the properties such that he can get out of the reorganization. It really pains him and wrenches his heart of his chest to have to put up his business on the bankruptcy list, but it seems that there is really no other go for him and the business to survive the downturn. The real estate sector has been badly hit by the recession and companies like DeWoskin Properties are bearing the brunt of it. This is the sad reality of business in the US as of now.

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