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10-14-2009, 04:46 PM
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Continental Bank looking for relief from stay
Here's a new bank looking for relief from the stay.
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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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11-10-2009, 11:35 AM
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No response
Certificate of No Response to Motion of Continental Bank for Relief from the Automatic Stay Pursuant to 11 U.S.C. Section 362(d)(I) and Federal Rule of Bankruptcy Procedure 4001(a) Filed by JEFFREY KURTZMAN on behalf of Continental Bank, a National Banking Association (related document(s) 640 ). (KURTZMAN, JEFFREY) (Entered: 11/10/2009)
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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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11-11-2009, 05:42 PM
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THP Objection
Looks like there is a response.
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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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11-12-2009, 08:56 AM
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I don't think I've ever heard the term "stalking horse bidder".....that's a google moment for me.
__________________
The information contained in this posting is intended to provide general information only. It is not meant to constitute formal legal advice or give rise to any attorney-client relationship. The author disclaims any and all liability resulting from reliance upon this general information. I strongly recommend seeking formal legal advice from a competent attorney before acting upon any information that may appear at this web site or in any correspondence (electronic or otherwise).
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11-12-2009, 11:24 AM
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Stalking-Horse Bid
Investopedia explains Stalking-Horse Bid
This method allows the distressed company to avoid low bids on its assets. Once the stalking horse has made its bid, other potential buyers may submit competing bids for the bankrupt company's assets. In essence, the stalking horse sets the bar so that other bidders can't low-ball the purchase price.
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11-12-2009, 11:32 AM
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interesting....you learn something new everyday.
__________________
The information contained in this posting is intended to provide general information only. It is not meant to constitute formal legal advice or give rise to any attorney-client relationship. The author disclaims any and all liability resulting from reliance upon this general information. I strongly recommend seeking formal legal advice from a competent attorney before acting upon any information that may appear at this web site or in any correspondence (electronic or otherwise).
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11-12-2009, 03:42 PM
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Wonder what happened today.
Here is a revised filing that came out of the hearings today.
This reads like something they got and needs to just be signed off on? ... It may have been a big day in court. Hopefully more info will become apparent in filings as to what transpired today!
__________________
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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11-12-2009, 03:54 PM
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Related docket text to the above filing
Proposed Order Re: (Revised Order Pursuant Agreement on Record at Hearing on 11/12/09) Filed by JEFFREY KURTZMAN on behalf of Continental Bank, a National Banking Association (related document(s) 640 ). (KURTZMAN, JEFFREY) (Entered: 11/12/2009)
__________________
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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11-13-2009, 08:17 AM
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Quote:
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11-13-2009, 09:03 AM
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This is a zero sum game for them....I don't think they had any intentions/wherewithal to build out Ivywood anyhow....that was further down the road
__________________
The information contained in this posting is intended to provide general information only. It is not meant to constitute formal legal advice or give rise to any attorney-client relationship. The author disclaims any and all liability resulting from reliance upon this general information. I strongly recommend seeking formal legal advice from a competent attorney before acting upon any information that may appear at this web site or in any correspondence (electronic or otherwise).
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