Atlanta real estate developer Scott Leventhal has filed for chapter 11 bankruptcy reorganization, the Atlanta Business Chronicle reported. Leventhal has been CEO of The Trillist Companies Inc., a real estate developer and property management firm. Trillist, which is not a party to the bankruptcy filing, developed a 245-unit apartment project called Yoo on the Park, located on 13th Street near Piedmont Park. At the beginning of 2020, the company proposed a 46-story, 544-foot tower on a small parking lot between Peachtree Street and Crescent Avenue. In his July 5 filing in U.S. Bankruptcy Court in Atlanta, Leventhal lists assets and liabilities of between $1 million and $10 million. According to the filing, unsecured claims pending on Leventhal include $69.5 million to CIM RE Lending Sub LLC of Dallas; $9.3 million owed to AFF III Crescent LLC; $4,445,722 owed to Angel Oak Commercial Bridge; and $1,857,070 owed to Choate Construction Co. Leventhal has been entangled since February in a vicious legal battle in federal court in Miami with his business partner at Trillist, Joseph Kavana. Both are 50% owners of Trillist. Kavana served as the company's chairman, according to a court filing. Leventhal first sued Kavana, and then Kavana sued Leventhal. Kavana sought "to remove Leventhal as the Operating Officer of Trillist on account of his acts of fraud and gross misconduct and his myriad breaches of the parties’ Shareholders’ Agreement," Kavana's attorneys claimed in a court filing. Leventhal's attorney described the litigation as "basically a dispute between two partners."
