Trustee Takes Control at Baldwin Co.
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NEWPORT BEACH — Los Angeles attorney David Gould has been approved to oversee the affairs of bankrupt home builder Baldwin Co.
Brothers James and Alfred Baldwin, owners of the Newport Beach-based company, were removed from their management positions Thursday when U.S. Bankruptcy Judge Robin Riblet approved hiring a trustee to preserve the company’s assets. Baldwin Co. filed a Chapter 11 bankruptcy petition in July.
Gould, a bankruptcy specialist, was appointed by U.S. Trustee Marcy J.K. Tiffany and took control of Baldwin Co.’s assets late Friday afternoon. He is expected to hire a professional crisis manager next week to serve as the giant building firm’s new chief executive.
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