Recycler staves off foreclosure

[Omaha Steve]

http://www.omaha.com/article/20090807/MONEY/708089974/0/AP15

Published Friday August 7, 2009

A Grand Island-based ammunition recycling company has staved off foreclosure.

The foreclosure sale of buffer land and the corporate office building of Heritage Disposal and Storage was canceled Friday. The sale had been set for 10 a.m. June 24 but was postponed to 10 a.m. Friday.

“They brought their debt current,” said Grand Island Attorney Denise Myers, who posted the notice.

Myers was the sale trustee representing Pathway Bank. She had previously stated that Heritage owners had failed to make the agreed-upon payments to Pathway, and that is what prompted the foreclosure process to begin in May.

Heritage is owned by Bonnie Bilderback-Vess and her husband, Mark Vess. A call to Bilderback-Vess Friday was not returned.

Mark Vess previously stated said the company has remained solvent, but had struggled with cash-flow due to delayed payments on a federal contract.