Chicago real estate auctioneer Sheldon Good files Chapter 11

Sheldon F. Good Realty Inc., a real estate auctioneer based in Chicago, filed a Chapter 11 petition on April 24 in New York along with nine affiliates.

In a statement along with the filing, the company said it sought bankruptcy protection when "improper actions taken by its former chairman," Steven L. Good, came to light following his death in January.

The company said it intends to continue operating.

The case is In re Sheldon F. Good Realty Inc., 09-12536, U.S. Bankruptcy Court, Southern District New York