The owners of downtown Oklahoma City's First National Center will get another 30 days to arrange financing of $12 million required to avoid the property being turned over to a receiver.
Judge Niles Jackson earlier this month approved an end to the bankruptcy filing by the owners, an investment group led by Aaron Yashouafar, chief executive officer of Los Angeles-
They originally agreed that if the $12 million was not paid by Sunday, the property would go, uncontested, to a receiver. Court documents show that deadline was extended this week to June 26.
“The ownership of First National Center is pleased that it has been successful in resolving its business issues, resulting in the dismissal of the bankruptcy cases,” Yashouafar said in a statement provided to The Oklahoman.
“The ownership is back on course to proceed with its goal of making First National Center the premier business location in downtown Oklahoma City.”