TH Properties Chapter 11 Filing PDF - THP / T.H. Properties Chapter 11 Bankruptcy

[cardiodo]

http://activerain.com/blogsview/7087...-Goes-Bankrupt

[DontUnderstandY]

Jimmy Costa - central concrete - damn 4.6 million owed to him, what a shame.

THP used nearly 20 different banks - this is a sign of a true scam artist.

[mia]

I don't think that any of the townships will be granting permits for TH P to break ground on new projects. I would venture to bet that they will have to finish up the existing mess before they could start on anything "new". I know I would really sound off if I see ground being broken with unfinished homes in my development. Just my two cents worth.

[alzambito]

Who is going to buy a THP home now? I would hope they finish what they started and then liquidate...sell to a reputable company who will be able to sell these and future homes. I think we as current homeowners who are happy with our houses and developments need to spread the positive word on this! I am afraid my house has significantly depreciated because of all the negative press when I live in a GREAT house in a nice neighborhood. The company folded, but the houses didn't...

[JayandKaren]

Originally Posted by mia

I don't think that any of the townships will be granting permits for TH P to break ground on new projects. I would venture to bet that they will have to finish up the existing mess before they could start on anything "new". I know I would really sound off if I see ground being broken with unfinished homes in my development. Just my two cents worth.

IF that's the case, shouldnt we do our part in getting the townships to provide proper permits so that THP can do their new/existing projects? That way they will get back on their feet quicker, give people their homes that they were promised. Sounds weird to help THP out, but in the big picture it would help homeowners out as well.

[LMF]

Originally Posted by JayandKaren

IF that's the case, shouldnt we do our part in getting the townships to provide proper permits so that THP can do their new/existing projects? That way they will get back on their feet quicker, give people their homes that they were promised. Sounds weird to help THP out, but in the big picture it would help homeowners out as well.

I understand what you are saying. But, I, personally, want absolutely nothing at all to do with this company, who has done nothing but lie to me for the past 15 months.

[pville]

Elliot Building Group went into Chapter 11 and failed to secure financing... Here is a good article which explains the process.
http://www.builderonline.com/null/el...ll-assets.aspx

I wonder what the true value is of the land they purchased at the height of the real estate boom. I am sure all of their assets are land holdings, which they borrowed agasint, however all of the national builders have been making writeoffs on the value of their land.

[B_robert]

Yeah, I read that Elliot debacle. That's the one "what if" in this whole deal. The only positive signs I see here is in the Morning Call article where company reps indicate that nearly all of the creditors are willing to work with THP.

[crashtc]

Who's to say they won't be ok for now...start my home & Then have to liquidate...it's all just too much for me to handle...

[pville]

b-robert,

I am assuming that excludes Continental, Wachovia, and Vist bank, all of which have judgements agasint THP?