Local attorney Peter Josserand XIII is attempting to put San Luis Obispo developer Fred Machado into involuntary Chapter 7 bankruptcy on behalf of three former investors — one more time.The investors gave Machado money through the now-bankrupt Hurst Financial lender to develop a subdivision in the Central Valley, called La Valencia Estates, but Machado has defaulted on his payments, according to investor Loney Brown of Riverside. They want to force him to open his books to prove he is incapable of meeting his debts, Brown said.According to Hurst Financial loan documents, Machado had borrowed about $11.6 million from the firm from 2003 to 2006 for three housing projects called La Valencia Estates in Visalia, Sheid Ranch in Paso Robles and Carrizo Road in Atascadero. It is unknown how much of the money has been left unpaid, but all Hurst Financial loans are now in default or have been foreclosed.

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