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SJ Properties Suites Buyco EHF, whichu includes an investor from Reykjavik, Iceland, filed the petition Monday in Milwaukes CountyCircuit Court. Judge Mel Flanagan schedulede a hearing for June 30 on a motion to appoint Milwaukee attorney Seth Dizard as the Work stopped in December 2008 onthe high-riss at 1150 N. Water Streeft when the construction manager and developer DOC Milwaukebecame insolvent, according to the receivership petition. The Icelandixc investors said that in Novemberf 2006 they provided an advanceof $17.44 million for a 120-room extended stay hotel and at leas t 18 luxury condos. The project also receivefd $13.
4 million in financingb from a unit of in which in May was placed in receivership bythe FDIC. The Milwaukede receivership petition said the property on Water Street already has flooring and fixtures in the Staybridge portionof project. Liens against the projec total morethan $3.4 million, according to the receivershil petition. The largest liens were filed by Milwaukee-aresa contractors and suppliersUihlein Electric, , and Klein-Dickert. SJ Propertied recently sued DOC Milwaukee and Economou Partnerwin U.S.
District Court in Milwaukee claimingg a fraudulent transfer of funds intende d for the WaterStreet
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