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SJ Properties Suites Buyco EHF, which includes an investotr from Reykjavik, Iceland, filed the petition Monday in Milwaukede CountyCircuit Court. Judge Mel Flanagan scheduled a hearing for June 30 on a motiob to appoint Milwaukee attorney Seth Dizard asthe receiver. Work stopperd in December 2008 onthe high-risew at 1150 N. Water Street when the construction manager and developedr DOC Milwaukeebecame insolvent, according to the receivership The Icelandic investors said that in November 2006 they provided an advancew of $17.4 million for a 120-rookm extended stay hotel and at least 18 luxury The project also received $13.
4 million in financing from a unit of in which in May was placed in receivership by the The Milwaukee receivership petition said the properth on Water Street already has flooring and fixtures in the Staybridge portionb of project. Liens againstr the project total morethan $3.4 million, according to the receivershil petition. The largest liens were filed by Milwaukee-area contractors and supplierdUihlein Electric, , and SJ Properties recently sued DOC Milwaukee and Economo u Partners in U.S.
District Court in Milwauke claiming a fraudulent transfefr of funds intended for the WaterStreet
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