However, since it filed for bankruptcy, Kiebler failed to create a plan to reorganize its debts. On May 26, 2010, Paul Kiebler, previous owner of Peek’n Peak Resort and Spa, filed for bankruptcy protection under Chapter 11 of the Bankruptcy Code to reorganize the business in an attempt to become profitable. Once the bids were in, Simon and officials representing the primary creditor, Huntington National Bank, reviewed and negotiated with those submitting top offers. Those interested in bidding on the resort had until Aug. It has to be paid.”Īccording to court papers filed earlier this month, Chautauqua County is owed $1,276,123.68 in unpaid real property taxes. ”I believe it is one of the first things (paid) is the back property taxes,” he said. ”It is exciting … that (Peek’n Peak Resort & Spa) is coming out of bankruptcy and they’ll have a new owner,” he said.ĭixon said the county will be one of the first creditors in line to receive money owed from the sale. Richard Dixon, Industrial Development Agency chief financial officer and chair for the Unsecured Creditors Committee in the bankruptcy case, said county officials will help the new owners any way possible. 1, there should be a new owner,” he said. 27, when the case will officially be closed. He said bankruptcy claims will proceed until Sept. ![]() Simon said it is unknown now how exactly money from the purchase of the resort will filter to creditors. He did not want to release information about the unsuccessful bidders until the sale was approved by the court.Īltogether, he said there were more than 30 parties who showed interest in purchasing the resort through a due diligence website. Simon said there were four ”top bidders” that participated in the auction. ”There is no reason why it would not be approved by the court.” ”I’m not aware of any objections (to the deal),” Simon said. ![]() A bankruptcy judge in Cleveland is expected to approve the deal for the 1,150-acre ski and golf resort at a 10:30 a.m. Simon, the court-appointed trustee overseeing the Peak’s operations, said the successful bid was for $11.3 million. On Wednesday, the company, which owns Splash Lagoon Indoor Water Park and a string of hotels and restaurants in the Erie area, was the high bidder at a court-ordered auction.ĭavid O. Scott Enterprises of Erie, Pa., will be the new owners of Peek’n Peak Resort & Spa. Chautauqua-Cattaraugus Board of Realtors, Inc. ![]() Commercial & Industrial Property Search.UNIFORM TAX EXEMPTION POLICY AND GUIDELINES.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |