NYC bankruptcy baron strikes again

Another week, another bankruptcy filing for pizza-parlor owner and real estate investor James McGown, who is quickly becoming a bankruptcy baron. On Tuesday, Mr. McGown submitted a Chapter 11 bankruptcy petition for his eight-year-old real estate firm Gowanus Inn Inc., citing assets between $1 million to $10 million and liabilities of the same amount. Neither Mr. McGown nor his lawyer, David Leventhal, returned calls requesting comment. The filing follows last week's Chapter 11 petition for P.J. Hanley, a Brooklyn-based bar also owned by Mr. McGown. In fact, Mr. McGown currently has three bankruptcy cases pending in federal bankruptcy court for the New York Southern District. Last year, he also filed petitions for South Brooklyn Pizza, a five-unit chain, and East River Mortgage Corp. Read More at: http://www.crainsnewyork.com/article/20130305/REAL_ESTATE/130309944