July 7, 2009 Elad Bushari

A Boston construction company has filed for bankruptcy under Chapter 7, which can result in liquidation of assets to pay creditors.

Hallmark Construction Inc., of 80 Beacon St., listed assets of $69,000 and liabilities of $3.6 million in its bankruptcy petition.

The assets consisted almost entirely of money owed by a company called Hallmark Properties, which is listed with a Hopkinton, Mass., address.

Many of the creditors are suppliers of building materials.

The major liability is a $3.2 million judgment entered against the company in Middlesex Superior Court. The docket lists the case as a “construction dispute.”

In a related case, Hallmark Group Ltd., of the same address, also filed for Chapter 7.

Elad Bushari

Elad Bushari is the Broker / Owner of Bushari Group Real Estate and a National "30 Under 30" Honoree by REALTOR Magazine in 2009.

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