“FORE!” – Beulah Road Land Company Files for Chapter 11
BY: Katie Imler
On July 26, 2013 Beulah Road Land Company filed a voluntary petition for relief under Chapter 11 of the Bankruptcy Code in the Western District of Pennsylvania (Case No. 2:13-bk-23148). The Debtor, located at 800 Beulah Road, Pittsburgh, Pa 15235, is the new majority owner of the land on which the Churchill Valley Country Club sits. The Debtor has been fighting with creditors of the club, as to who owns the 147-acre property. These creditors forced Churchill Valley Country Club into a Chapter 7 bankruptcy (Case No. 13-23122 filed July 25, 2013). At the same time, Zokaites Properties, Inc. recently purchased the outstanding $1.2 million mortgage held on the club and property from PNC Bank. A local lawyer and ex-business partner of Zokaites is challenging this transfer.
The Beulah bankruptcy case has been assigned to the Honorable Judge Carlota M. Bohm. In the petition signed by the Debtor’s President Richard Hersberger, the Debtor listed $1-$10 million in assets and $1-$10 million in liabilities. All Schedules are due August 9, 2013. The Chapter 11 Plan and Disclosure Statement are due November 25, 2013. On August 1, 2013, creditor Zokaites Properties, Inc. by and through its attorney Jeffrey Hulton, made a motion to dismiss the bankruptcy case. There will be a hearing regarding the motion to dismiss on August 9, 2013 at 3:00pm.
The largest creditors include several law firms, the Penn Hills School District, PNC Bank, and the Woodland Hill School District.
The Debtor is represented by Donald R. Calaiaro of Calaiaro & Corbett, P.C. located at 310 Grant Street, Suite 1105, Pittsburgh, PA 15219. The US Trustee is represented by Norma Hildenbrand located at Suite 970 Liberty Center, 1001 Liberty Ave., Pittsburgh, PA 15222.
Posted on August 15, 2013, in Ch. 7 v. Ch. 11, Chapter 11 Debtors, Creditor Issues, Gettting Schedules Filed, New Chapter 11 Filings, PA Chapter 11 Debtors, Pittsburgh, Uncategorized and tagged attorney, bankruptcy, business law, ch. 11, chapter 11, Churchill, Churchill valley, commercial bankruptcy, country club, firm, golf, gulf course, joe hudak, Katie Imler, land ownership, law, lawyer, Mazur Kraemer, mazurkraemer, mortgage, pittsburgh, pnc bank, salene, Salene Kraemer, salene mazur, weirton, zokaites. Bookmark the permalink. Leave a comment.