Real estate developer Dan Stanbrough has dropped his attempts to reorganize the finances of four business entities that controlled properties in Des Moines, Clive and Warren County and have been the target of foreclosure actions by Regions Bank.

U.S. Bankruptcy Judge Anita Shodeen dismissed the cases Aug. 10.

Regions Bank recently bundled the Stanbrough loans in an auction of commercial mortgage-backed securities that were bought by LSREF2 Baron LLC, a Delaware corporation whose home office address in Dallas is the same as special servicer Hudson Advisors LLC, which handled the auction.

According to court documents, the Stanbrough companies were in arrears on nearly $16.4 million in mortgages granted to Corporate Woods LC, DTS LC, Orchard LLC and Rose Marie LC, the companies affected by Shodeen’s ruling. Their cases were filed within a week of each other in November 2010.

In April, Shodeen dismissed the Chapter 11 filing of Dan Stanbrough LC, which operated the Keck City Center at 500 Fifth Ave. Regions claimed the operating company owed $5.5 million on a loan for that building. The case was dismissed at the request of Regions and the U.S. trustee assigned to monitor the case. The Keck loan also was among those purchased by LSREF2 Baron.

The Keck City Center currently is under receivership. State court actions against the other Stanbrough operating companies have resumed, with LSREF2 Baron substituted as the plaintiff in each case.

Stanbrough has said that his problems began when Regions rebuffed attempts to refinance the loans through another lender.

A partner in one of the operating companies, Corporate Woods, also filed Aug. 5 to liquidate assets and have debts discharged in a Chapter 7 filing.

Home builder Joel Goodman claimed assets of $500,000 to $1 million and business debts of $10 million to $50 million in a filing that followed two recent state court judgments that he owed $3.6 million to lenders.

On May 4, Polk County District Judge Karen Romano ordered Goodman to pay nearly $2.3 million in connection with a Regions Bank loan to Corporate Woods. On July 8, Judge Scott Rosenberg ordered Goodman to pay $1.3 million for a loan that was in default with American Trust & Savings Bank.

Goodman’s home building company, Triton Group LLC and its affiliates, filed for bankruptcy last year, claiming $203,000 in assets and $2.8 million in debts.