CARS HOMES JOBS

UPDATE: Owners of Amsterdam restaurant file for bankruptcy, postponing foreclosure

May 7, 2012
Updated 5:04 p.m.
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This story has been updated and edited to reflect new information.

The owners of the Crystal Ristorante have filed for Chapter 7 personal bankruptcy protection in federal court following foreclosure proceedings against their restaurant on Lyon Street.

The foreclosure was scheduled to occur today, but was postponed by the bank that holds the mortgage on the restaurant, said Ken Rose, director of the Montgomery County Industrial Development Agency. The IDA also has a financial interest in the restaurant.

Anthony and Carolyn Centi filed a voluntary petition April 17 with the U.S. Bankruptcy Court of the Northern District of New York. The couple cited $1.9 million in claims against them and less than $1 million in assets. Their petition states that $1.2 million of the $1.9 in claims is unsecured.

Anthony Centi said today he was open for business and that he and the bank are in negotiations. “No foreclosure has been posted yet,” he said. “Sometimes things like this could take years. We are open for business. Nothing has changed.”

 
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