Bankruptcy heads off sheriff sale on former Warren Packard Electric buildings
Maximus III Properties, the Girard company that owns the former Packard Electric facilities on Dana and Griswold streets, has filed for bankruptcy, heading off two sheriff’s sales for the properties.
Auto Parkit, the automated parking company owned by Warren native Christopher Alan, is using part of the Maximus properties under a lease and had hoped to relocate the company into the facilities.
But when negotiations broke down this spring with Sergio DiPaolo of Girard, owner of Maximus, Alan purchased other property on Dana Street.
Atty. Michael Partlow of Kent filed a notice of bankruptcy Sept. 7 in Trumbull County Common Pleas Court, according to court documents.
The notice says no further proceedings in the sheriff’s sale or foreclosure action on the properties can go forward without permission of the bankruptcy court.
The sheriff’s office says one Maximus-owned property at the corner of Griswold and Paige Avenue Northeast was to have been sold at sheriff’s auction Thursday but was pulled from the auction.
It was listed as being owned by DPH DAS LLC and Maximus III Properties, and the amount of back property taxes, fees and interest owed is $108,000.
The parcels Auto Parkit was attempting to purchase were in a larger sheriff’s sale scheduled for Sept. 28, but those properties also have been pulled from the sale.
Those properties are along Dana Street Northeast, including the large manufacturing plant and office building.
The total owed on those parcels is $261,100.
DiPaolo bought the properties from Delphi Automotive Systems of Troy, Mich., for $80,000 in early 2011.
DiPaolo carried out demolition inside the large manufacturing building on the north side of Dana.