Chasing down money owed in a 14-year-old legal dispute, Michigan real estate investor David Clapper is trying to eject American Realty Trust Inc. from bankruptcy court, arguing that the trust company's chapter 11 filing in August was another attempt to delay paying Clapper and his businesses a $73 million judgment, Dow Jones DBR Small Cap reported today. In the court papers filed on Tuesday, Clapper accused the controller of American Realty Trust of trying to avoid payment by gradually transferring assets and ownership to its successor company, Dallas-based American Realty Investors Inc., which is not in bankruptcy.
