United Western Bancorp trustee to set bar date for additional claims

By Lisa Kerner

Charlotte, N.C., Jan. 16 - United Western Bancorp, Inc.'s Chapter 7 trustee Simon E. Rodriguez filed a second status report with the U.S. Bankruptcy Court for the District of Colorado on Jan. 15.

According to the report, a motion to establish a bar date for additional administrative claims will be filed "in the near future." Several additional potential administrative claimants "have come to light" since the court established July 1, 2013 as the deadline for filing Chapter 11 administrative claims.

Since his appointment, Rodriquez has focused on liquidating the debtor's personal property, pursuing the appeal of the IRS audit and considering potential avoidance actions and other causes of action, the report stated.

As a result, Rodriquez has not begun the claims review process. The estate is administratively insolvent, and it is not known at this time what will be the distribution to creditors.

The company's Chapter 11 bankruptcy case was converted to Chapter 7 on April 15, 2013.

United Western is the holding company for a Denver community-based bank. The company filed for bankruptcy on March 2, 2012 under Chapter 11 case number 12-13815.

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