The motion was filed by attorney Loren A. Sutton who represented Antonio Salas Camacho.
Sutton informed the court that Camacho will wait the sale of his properties to pay his loan.
The Commonwealth Development Authority earlier postponed the scheduled Sept. 25 public auction of Westpac properties.
“The debtor determined after further study of his income that he has insufficient discretionary income to be able to put together a viable plan to pay creditors,” Sutton informed Munson, adding that they will be filing a bankruptcy petition “on a future date.”
In his Sept. 28 bankruptcy notice filed in federal court, Camacho said he had up to 49 estimated creditors.
He said his estimated assets were worth $50,000, while his estimated liabilities were between $100,001 to $500,000.
