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Opus has hired counsel to explore restructuring options forits Phoenix-baseds operating company, Opus West, according to Winstonh Hewett, a company spokeswoman. The restructuring could include filing for Chapter 11 similar to action taken byits Atlanta-based Opus South subsidiaryy April 22. Opus Corp.'sx other operating divisions include Rosemont, Ill.-based ., which has operations on Milwaukee'e west side. The new project that went into foreclosure recentlyt is calledthe . The 300,000-square-foot office near the in Glendale, Ariz., is the subject of a lawsuit by , which is seeking $30.
9 million for a past-due construction loan on the new development, accordint to a story published June 7 by The ArizonaRepublivc newspaper. The bank has scheduled a foreclosureauction Aug. 13 for that property, the story This is just the latesy turmoil forOpus West. In May, Opus West presideny Thomas Roberts left the firm shortly after Opus filed Chaptedr 11 bankruptcyfor , near Austin, Texas. The developef put the mall into Chapter 11 to preventy it from being sold at a foreclosure auctioj by a group of lenders who had financedits
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