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Appeals filed in McQuillen Place sale ruling

By Bob Steenson,

As expected, two parties have appealed the ruling of a U.S. Bankruptcy court judge affirming his decision to allow the sale of the McQuillen Place property in downtown Charles City to a company related to First Security Bank & Trust.

Charles Thomson and James Gray, the former principal equity owners in McQuillen Place Co. LLC; and Cornice & Rose International Inc., the firm that designed and organized much of the initial construction on the project (and that is owned by Gray), both filed notice of appeal to the Bankruptcy Appellate Panel (BAP) of the 8th Circuit Court.

Bankruptcy Court Judge Thad Collins had ruled on May 15 that he was going to let his order for the sale stand, also overruling arguments based on possible copyright infringement and due process concerns.

The BAP scheduled briefs by the appellants (the parties making the appeal) – Thomson and Gray and Cornice & Rose – to be due by July 31.

Appellee briefs – from bankruptcy trustee Charles Smith, First Security Bank, Four Keys LLC (the company the bank’s holding company formed to purchase McQuillen Place) and the city of Charles City – are due 30 days after the appellant briefs are filed, then optional reply briefs from the appellants are due 14 days after that.