Melchiori Files for Bankruptcy

Melchiori Construction Company filed for bankruptcy on 10/16, moments before a Santa Barbara judge was set to appoint a receiver at the request of Santa Barbara Bank & Trust. The bank alleges that the construction company, which has endured dozens of lawsuits over the last couple years, owes more than $6 million from a defaulted loan. The bank alleged the company was insolvent and in the process of a shutdown.