Raul Puig Group files for Bankruptcy 0
The Owner of the Raul Puig Group, Mr. Raul A. Puig filed for chapter 7 Bankruptcy liquidation to save itself from being harassed for money from its creditors. It has mentioned 9 hundred thousand dollars in debt and three thousand dollars in assets.
The Raul Puig Group has been involved in many prominent projects which include Alhambr Centre in Coral Gables, Everglades in Miami on the Bay-Twin condominium and the Miami Beach Grand Flamingo Casino.
The company has many lawsuits of which many are settled or are being still fought in the court. One of the lawsuits is the contract breach by the Continum in South Beach.
It is largely believe that this bankruptcy filing is because of the cancer battle that the owner is fighting right now and chemotherapy is going on.
The attorney of the group believes that because its liquidation, they will become one of the largest creditors and most of the company’s assets are receivables with more than 6 hundred thousand dollars on hold.
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