Bankruptcy Judge Bruce Markell approved a motion Tuesday to terminate remaining contracts for buyers at Mira Villa, one of the first luxury condominium projects to go bust in Las Vegas.
With no opposition to the motion, Markell ordered full refund of deposits in escrow plus additional payments made to developer Westmark for options and upgrades. Buyers must file a proof of claim for those amounts.
The motion brought by trustee Timothy Cory terminated a total of 92 prepetition contracts, or condos sold before Westmark filed for Chapter 11 bankruptcy in January 2008.
The trustee has entered into new contracts with three of the buyers, attorney Laurel Davis of Fennemore Craig law firm said. She represented the trustee in court.