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10-15-2009, 04:57 PM
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Bank of America has finally spoken in court! .... Biltmore? and NorthGate Late Phase
And, it's a claim.
So. .... Now what? No DIP? Nothing? Ever? What is left for Biltmore and NG late phase? One of the attachments it is clear it is Northgate, but I believe the other is Biltmore as it looks familiar to the amount owed on the project as put forth in earlier filings. I really don't know. I'm asking just like anyone else. Time to make some calls. The attached exhibits almost make you wonder if they are growing as frustrated as the customers of TH Properties.
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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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10-16-2009, 11:21 AM
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BofA has enough problems without this....yikes....2.1 billion in losses?
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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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10-16-2009, 11:24 AM
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Agreed.
Quote:
This property project problem is a drop in the bucket for them at this point and one would have to wonder if this is the start of the exit. Time will tell. Perhaps it's just as simple as the required claim form to set their position.
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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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10-16-2009, 11:35 AM
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Methinks they'd be willing to cut their losses quickly to recoup as much on the project as they can in a short time frame.
__________________
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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10-16-2009, 12:38 PM
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I did reach out to the representation.
I shared a few words and offered any services that I could provide.
Because, truth be told, for Biltmore - and I can speak personally on this development as I live there - it's going to be an AMAZING project when it is complete. It's going to be absolutely astounding and now, while it is very rough, a year or so from now people very well be kicking themselves they didnt take the chance to get in during some rough patches. And, quite honestly, I just want it done. Believe it or not, TH Properties or otherwise. So do a lot of people. And, so do they. So, here's to hope for a resolution.
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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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10-16-2009, 02:38 PM
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you Failed to Emphatically excite Us
__________________
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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| The Following 2 Users Say Thank You to B_robert For This Useful Post: | ||
administrator (10-16-2009), northgate#46 (10-17-2009) | ||
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