Wiser Construction LLC
A Southern Nevada construction company has filed for Chapter 11 bankruptcy reorganization after financial problems apparently caused it to halt work on two projects.
Wiser Construction LLC of Moapa — a town 45 miles north of Las Vegas — filed for reorganization last week in U.S. Bankruptcy Court for Nevada.
The company, headed by Adam Lewis, managing member, reported $6 million in assets against liabilities of $6.4 million.
The Austin American-Statesman newspaper in Texas last week reported that Wiser walked off an $8.4 million highway bridge job — a job in which some of the work had to be torn down and rebuilt because of construction problems.
The Laughlin Times in Southern Nevada also posted a story last week saying that Wiser halted work on a Clark County Public Works job to improve Casino Drive there.
In both cases, bonding companies will have to assume responsibility for finishing the jobs, reports said.
A request for comment was placed Monday with Wiser.
In a bankruptcy court filing last week, Wiser said it had paid $345,000 to Las Vegas attorney Charles Wright of the law firm Piet & Wright to represent it in the bankruptcy case.
"The debtor filed this case to stabilize its operations, revise its business plan and commence the process of reorganizing its current debts and liabilities," a Wiser bankruptcy filing said.
Wiser’s license with the Nevada State Contractors Board remains active. There are no limits on the dollar amount of work it can take on, according to the license.