The developers of the proposed Neponset Wharf project in Port Norfolk filed a second Chapter 11 bankruptcy in federal court last Thursday (Oct. 24) just hours before a public auction was to commence on the site.

The filing marked the second time this year that CPC Ericsson LLC/City Point Capital has opted for Chapter 11 reorganization on the same day as a scheduled public auction. The latest one, at 6R, 8R, 18R, and 20R Ericsson St., was to take place at 2 p.m., but CPC Ericsson principals Ryan Sillery and Brian Anderson filed for a second bankruptcy around 11:30 a.m., which stopped the auction proceedings.

“We’re confident we’ll make this case work,” said attorney Gary Cruickshank, who represents CPC Ericsson. When asked what would be different the second time around, he said there are key differences now, but asserted attorney-client privilege in not commenting on them.

A filing in Massachusetts Federal Bankruptcy Court noted that the filing was to stop the auction from taking place. No court hearing date has been set, Cruickshank confirmed.

The first bankruptcy was filed in May to stop an auction and went through a lengthy process in bankruptcy court through the summer.

On Sept. 10, Judge Janet Bostwick dismissed the case, ruling that the principals were not able to adequately show they could put a plan together to emerge out of the bankruptcy process and pay off creditors. Unitas Funding of New Jersey, the largest creditor, is owed about $11 million, court proceedings showed. That firm’s attorney, Jay Johnson, did not answer a Reporter email seeking comment.

–REPORTER STAFF