Ramanujan Group, the principal owner of Blackhawk Plaza in the Danville area, has filed for bankruptcy in a U.S. Bankruptcy Court in California. The bankruptcy process may help Black Hawk Plaza avoid foreclosure and seizure by its lender, Preferred Bank and Nano Banc. The loans were provided through separate mortgages and are expected to be major creditors in the case. Despite filing a Chapter 11 proceeding to reorganize its finances, the case may not prevent the forced sale of the property. It is unclear if these banks will be able to seize ownership of Blackawk Plaza to meet the delinquent financing.