Cyfred files for bankruptcy
by Mindy Aguon
Guam - Just a day before residents of the Gill-Baza Subdivision were set to sell Cyfred's interest in 85 lots at the problem-plagued Yigo area, the company on Monday filed for Chapter 11 bankruptcy in the District Court. The residents were scheduled to sell the interest today during a public sale at the Yigo Mayor's Office, but Attorney Wayson Wong says the sale was cancelled.
He adds Cyfred "can try to run, but it cannot hide. We and justice will catch up to it". The proceeds from today's sale were to go toward the installation of a sewer system.