Actor Jack Lemmon, his wife, Felicia, and actor Michael Keaton invested in a two-story professional office building in Murray whose owners have filed a voluntary petition for bankruptcy.
Fashion Place Investors Ltd., based in Los Angeles, filed a petition for protection under Chapter 11 of the federal bankruptcy law. Secured claims against the company amount to $1,371,795, while unsecured claims are $51,840.All secured claims are backed by the office building at 6065 S. Third East and an adjacent property at 6063. These tracts are just north of Fashion Place Mall, according to a worker in one of the companies leasing space in the office building.
Valley National Mortgage, Phoenix, has the largest secured claim, amounting to $932,500, according to court documents. Two properties have a combined value of $1,850,000.
Murray City has filed a claim of $4,301 against Fashion Place Investors. Jack and Felicia Lemmon, address listed as care of 2121 Avenue of the Stars, Los Angeles, are listed as among the unsecured creditors.
Lemmon is named among the officers, directors, managers and principal stockholders. His unsecured claim of $2,312 is docketed as a loan by a limited partner, made in December 1985.
Keaton, also a limited partner, has an unsecured claim of $1,926, dating to November 1984, for a loan by a limited partner. Keaton, whose real name is Michael Douglas, is a comedian and actor who has performed in films such as "Mr. Mom."
Creditors will meet at 10 a.m. June 16 in Suite 1203 of the Federal Building, First South and State.