New filing Possible Sherrif Sale Relief of stay for bank - New boiler plate text too

[crashtc]

wow...so the bank is selling off these properties? is that what I'm reading? & then relieving THP of the debt?

Well....I guess it could mean 2 things...THP has less debt to worry about & more chances to survive...

OR...it means that they have NO chance & this will be happening more & more.

[cemsinpa]

I think they should bring it on sell off the done properties to people who want them. And maybe allow for more homes to be finished.

[gregwatching]

5. The Bank hereby releases (a) any claim that it might have against the Debtors for a deficiency balance remaining due by reason of the Premises being worth less than the total amount due under the Notes and Mortgage and (b) that claim that it might have against W. Todd Hendricks and/or Timothy P. Hendricks, arising under the terms of Commercial Guaranties that
they previously executed in favor of the Bank to secure repayment of the Notes and Loan.

This is the reason THP will keep muddling along. The Hendricks's have personally guaranteed the loans and they will continue to wear everyone down until they get released from the debt.

[gill]

"The Hendricks's have personally guaranteed the loans."

This was well-known by the employees for a long time and thought to be the main reason why they didn't just throw in the towel much earlier.

[NorthgateAS227]

This is a joke at this point. I can't believe this crap is still going on. I also heard about the Hendricks personally guaranteeing the loans. Once again, it's all about them, and they do give a rat's behind about the people whose lives they've turned upside down. There is no end in sight. There is no light at the end of the tunnel. And we continue to muddle on...