Court documents show that Trooien owes GE Capital in excess of $280 million against the paltry $6.5 million he has claimed in assets. According to the Pioneer Press Trooien is now pushing for liquidation where he would be forced to sell off his assets to go towards his overwhelming debts.
Trooien is being represented by attorney James Baille who wants to keep the bankruptcy case on a track towards reorganization. Braille hopes to answer with a counter filing as soon as next week.
The developer is known for proposing the concept of “Bridges of St. Paul” five years ago. If the plan had been realized a hotel, entertainment destinations and shops would have been erected near the city’s downtown area.