Soon after his appointment, the Chapter 11 Trustee, David Bradlow, began to list all four properties of the Richard L. Bruhn ("Bruhn") estate. Unfortunately, as many well know, the real estate market is currently in a depressed state and not much positive activity has occurred.
An offer was received and accepted for the property in Salinas; however, the buyer recently withdrew from the sale and the Trustee has recommenced marketing the Salinas property. The Trustee is currently reviewing an offer for the property at Gilroy. The Trustee is aggressively marketing the properties in a declining market.
The Dick Bruhn, Inc. ("DBI") estate is presently winding down after the sale of the Selix business. DBI intends to pay its cost of administration and then consolidate the DBI and Bruhn estates. What this means to the Bruhn estate is not clear. We will keep you apprised.
