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11-28-2009, 10:33 AM
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The Reporter Article - Bank files objection in THP case
Here's an article in relation to the back and forth NONSENSE that THP tried pulling recently in regard to the collateral.
Bank files objection in THP case - The ReporterBusiness: Serving North Penn, Indian Valley and neighboring communities
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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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| The Following User Says Thank You to administrator For This Useful Post: | ||
The Bobster (12-02-2009) | ||
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11-28-2009, 05:23 PM
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They have a point
I hate to say it but BofA's attorney Barbara Hager has a point. None of what THP is doing helps anyone but THP. We still hope is goes through so we don't loose our deposit.
Does anyone know? If BofA takes back the land, does that mean that its over for them? Will they then be forced into chapter 7 so those of us that have money invested can at least get some of our money back and be released from contract?
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11-30-2009, 06:08 PM
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Don't want to be a broken record
I was hoping that someone out there would have an idea about the question that I posted yesterday. I hope after the Dec 3rd hearing we will have an answer and this whole thing for those of us involved will be over...... LET KEEP OUR FINGERS CROSSED.
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clancy  (11-30-2009) | ||
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12-01-2009, 09:13 AM
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If BofA foreclose on the Biltmore and Northgate properties, I don't think it's necessarily over for THP since they have other projects in line, but it certainly is a major blow to their restructuring efforts and, ultimately, the likelihood that you'll see any of your money since that's contingent upon their "success" in the business going forward.
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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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12-01-2009, 04:01 PM
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All i have to say is!!!
That's just great!!!
 We worked so hard for that money and THP walks away with our GOLD in their pockets.
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12-01-2009, 05:02 PM
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When will the courts ever step in and make THP give deposits back since they broke the law by not putting them in escrow? How do any of us stand a chance when our own legal system doesn't make them accountable??
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