March 13, 2024
A Delaware bankruptcy judge on Wednesday approved the Chapter 11 liquidation plan of 540 West 21st St. Holdings LLC, the developer of a scrapped luxury condo project in New York City's West Chelsea neighborhood, overruling an objection from the managers of a neighboring building.
January 31, 2024
The developer of a stalled construction project in New York City's West Chelsea can solicit votes on its most recent Chapter 11 plan, which includes an $87.4 million sale of the property, a Delaware bankruptcy judge said at a hearing Wednesday.
January 09, 2024
A Delaware bankruptcy judge on Tuesday granted the developer of a stalled construction project in New York City's West Chelsea final approval for a debtor-in-possession loan, laying a foundation to sell the property and confirm a Chapter 11 plan in March.
October 04, 2023
The bankrupt developer of a high-end real estate project in Manhattan told a Delaware bankruptcy court Wednesday that a buyer has agreed to pay $95.8 million for the property as long as the deal closes by the end of the year.
September 22, 2023
A U.S. trustee argued that a Chapter 11 plan for a Manhattan ultra-luxury project failed to disclose that a principal for the senior creditor is the father-in-law of a principal for debtor Luxe NYC, calling into question terms of the deal that benefit the creditor company.
September 05, 2023
A Delaware federal bankruptcy judge said Tuesday she will sign off on a fast Chapter 11 plan for a scrapped Manhattan ultra-luxury development if the debtor reveals more details of the planned sale of the property.
August 04, 2023
The developer of a Manhattan multi-use real estate project received permission Friday from a Delaware bankruptcy judge to continue using its cash management systems as it pursues a sale of its assets in Chapter 11.
August 03, 2023
A New York City developer has opened a Chapter 11 case in Delaware to complete the bankruptcy sale of a West Chelsea building lot burdened by $226 million in debt, liquidity shortfalls and investor unwillingness to move forward with a plan restructuring.