Developer Gray, IRS make Atlas claims. (real estate developer John Gray; Atlas Telecom Inc)(includes related article on liquidation of Atlas Telecom's assets)

Atlas Telecom Inc., under pressure from a number of creditors, has put certain assets up for sale. The strongest claims on the money raised from such sales appear to be held by two major creditors - real estate developer John Gray and the Internal Revenue Service.

Atlas, the once-promising telecommunications firm, now faces involuntary bankruptcy at the hands of some of its unsecured creditors.

According to court documents, Gray "has or claims a perfected security interest in substantially all assets of Atlas Telecom." Gray is owed an estimated $10 million, according to an Atlas liquidation plan. Unsecured creditors are believed to be owed $19 million to $20 …