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Deadline looms for LA Plaza

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By Arin McKenna

As Los Alamos Plaza, LLC attempts to secure financing and move forward with its planned development, a huge deadline looms that could change everything.

A settlement agreement in a court case filed against Los Alamos Plaza, LLC and managing member Candles Delight, LLC by a group of creditors stipulates that an outstanding loan on the property must be repaid by Feb. 29.

The creditors filed for foreclosure and judgment on the promissory note in October of 2010. On August 19, 2011, a summary judgment and decree of foreclosure awarded the judgment to the plaintiffs.

A Special Master was assigned to sell the property. Legal announcements of the sale were posted, but the plaintiffs were the only ones to bid on the property. Their bid was for $1,258,226.66, the amount of the judgment, and they were awarded the bid.

Candles Delight, LLC, sued to have the judgment set aside, on the grounds that notice had not been properly served and that the name of one of the plaintiffs had been left off the court filings.


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256 DP Road, Los Alamos, NM 87544
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