{gallery}04_02_09/fence{/gallery}The future of the Whispering Pines subdivision looks grim. Work on the development came to a halt last fall, and last month, the developers filed for bankruptcy protection. Tribune photo by Toby Bonner Filing halts foreclosureThe economy killed us and that's the bottom line.”Those are the words of Jim Kalasinsky, a partner in the development group that owns the Whispering Pines subdivision in west Powell.

Last month, the company — Aspen Development, LLC — filed for Chapter 11 bankruptcy protection, halting pending foreclosure on the development's houses and lots.

In its petition to the court, Aspen listed some $2.7 million in debts. Of that, more than $1.5 million is owed to Pinnacle Bank in Cody, which financed construction on five “spec” homes built by Aspen in 2008. Thousands of dollars are still owed to Powell businesses and contractors who performed work on the development.

In late December of last year, Bloedorn Lumber of Powell filed suit against Aspen, seeking some $76,000 for unpaid materials.

The developers never responded to the suit, and on March 9, District Judge Steven Cranfill issued a default judgment in favor of Bloedorn.

In the decision, Judge Cranfill ordered that the property be foreclosed to repay Bloedorn.

On March 12, Aspen filed for bankruptcy protection.

According to court documents, the company owns some $3.5 million of property. That includes the 12 lots in Whispering Pines Phase I, construction equipment, a motor home, and real estate in Casper and Rawlins.

The company formed in late 2006. Between January 2007 and March 31, 2009 the company had a gross profit of negative $79,825, according to documents filed in bankruptcy court.

Aspen acquired Whispering Pines in March 2007. In 2008, the company built five homes. Only one sold.

Kalasinsky said two other homes were under contract, but the buyers backed out.

He said of the remaining four homes, three are almost entirely finished, and another is about halfway complete.

In addition to the money claimed by Pinnacle and Bloedorn, six businesses in Powell, Cody and Ralston say they are owed a total of just less than $30,000.

As they are all unsecured creditors, there is no guarantee they will recover their money.

“We all got screwed,” said Rod Werbelow of Powell Garage Door, who's claiming $1,930. “We were all led on.”

Werbelow said Aspen representatives told him things were fine and that money was not a problem.

Kalasinsky said there are “good workers — good people” who need to get paid.

“It's absolute bull crap. I'm not happy about this thing (either),” he said.

He said that his partners were the ones who handled the money, but said it wasn't the appropriate time to go into details.

“I don't want to get into a defamation of character lawsuit with my partners,” he said.

Aspen Development, LLC is a joint effort between Richard Bertagnole, Todd Bertagnole, Shane Bertagnole, and Kalasinsky. The Bertagnoles own half of the enterprise, and Kalasinsky, through his company Sky Construction, owns the other half.

“For the community to have lost that kind of money, it's horrible — especially in these economic times,” said Carl Bradford of Bradford Plumbing, who's claiming $2,777.

Bradford said he is owed more than the $2,777 he is claiming in court. He said that by the time he realized he would not be paid, it was too late to file a lien for all but the final house he worked on.

Bradford said it felt like Aspen was leading him on until it was too late to file a claim.

“I feel like they knew what they were doing,” he said.

Kalasinsky disputes that account. He said the only work Bradford wasn't paid for was the last house — the one that Bradford filed a lien on.

Further, Kalasinsky described Bradford's work as “horrible.”

“It's questionable if he's even owed,” Kalasinsky said, adding that he had no problem with any of the other subcontractor's work.

The bankruptcy petition signed by Todd Bertagnole disputes a number of the debts — listing work as “unfinished” or “unacceptable” or “untimely.”

Todd Bertagnole and his bankruptcy attorney did not return calls seeking comment by press time.

Werbelow's garage door work is listed as “not completed.”

Webelow disputes that.

“Everything there was totally completed,” he said. He said the group ordered only the most expensive doors.

Werbelow said he did his best to meet their needs, including replacing damaged materials at his own expense.

“We went the extra mile for them,” he said.