WITH CARRIAGE PARK DEVELOPER DALE HAMLIN FACING HAVING THE OFFICE, HIS HOME, AND OVER 20 LOTS IN THE DEVELOPMENT SOLD ON THE COURTHOUSE STEPS TO SATISFY OVER #13 MILLION IN DEBTS,, CARRIAGE PARK HAS FILED FOR CHAPTER 11 RE-ORGANIATION
Carriage Park Associates LLC filed Thursday for Chapter 11 bankruptcy protection, according to court documents.
The Hendersonville corporation has an estimated 50 to 99 creditors, according to the case summary. These include a claim by Florida-based developer Arendale Holdings Corp. for more than $13.5 million.
The claim is in dispute, however. The total claim is $13,564,835, with $10 million listed as a deduction for value of collateral and a remaining unsecured claim of $3,564,835.
The second and third largest claims are $211,067 by Who's Calling based in Seattle, and $160,176.07 by Harry's Ditching Service of Penrose.
Others listed among the top 20 creditors have made claims of $4,830 to $86,842.
A meeting of creditors is scheduled for 1 p.m. May 12 in Asheville.
Carriage Park and Manager Dale Hamlin are being represented by The Elkins Law Firm of Hendersonville.
Chapter 11 allows debtors to reorganize or liquidate assets according to a plan confirmed by the court.
