I'm still reading through but I have not seen the straight abolishment of liens against homeowners in sold homes. I see funds of a share of 57% of net profit, in line after others, but no abolishment.
Unreal.
Thanks, TH(P).
I hope I just missed it.
I see 3.18 .... I want to see the further detail on that... Which lien holders? I'm reading it as those inclusive of the ones on sold homes? And what about the leftover? I'm sure if there is a X percent payout on Y, lien holders will pursue the remainder.
At least the principals, under this plan, will have a reasonable salary and up to a 10% bonus.
That's much better than making customers whole as quickly as possible.
And it does look like there will be a HM management board of 5 members - Hendricks, two committee, and one agreed upon party.
Any takers?
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TH Properties apparently has "left its debt behind" while STILL in bankruptcy Chapter 11?
See :
http://www.wheresbuilder.com/THP-Marketing-Flyer-Davidson-New-Homes.pdf
I am "Unfairly Burdened" with liens due to THP's inabilities to pay their bills :
~2k - B&F Insulation - A Masco Company
~11k - ServiceMark - A UGI HVAC D/B/A
I'm still waiting, THP :
http://abclocal.go.com/wpvi/story?se...rts&id=6845195
"We are working diligently with vendors and lenders to develop a restructuring plan that includes an agreement by the mechanics lien holders to release liens against completed homes. Our discussions have been encouraging, and we intend to see that all legal action is taken to ensure that no homeowner is unfairly burdened by these liens. We continue to specifically address this issue in our discussions. Our goal is to reach the best possible outcome for all parties as soon as possible."
Note : I am not a lawyer. Any information received from a post is just that - information. It is not legal advice.
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