Developer Azteca Files for Bankruptcy

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(Sacramento, CA)
Thursday, December 16, 2004
Azteca Construction in Rancho Cordova had 100 employees at its peak last year, with revenues of $17 million dollars. But signs of trouble arose months ago when the company couldn’t fulfill the insurance and bonding requirements on a City of Sacramento project to improve roads in the Power Inn area. The incomplete job is awaiting a new contractor. Azteca president Rafael Martin couldn’t be reached for comment. The company owes $11 million dollars … including sizeable debt to Western Sierra Bank, Urata & Sons Cement, and the IRS. Chapter 11 bankruptcy involves the court in trying to help a company reorganize and go forward.