Judge OKs Ch. 11 Loan, Rent Commitment for Dallas Senior Home
Posted onAuthorRaymond E. HughesComments Off on Judge OKs Ch. 11 Loan, Rent Commitment for Dallas Senior Home
By Rick Archer (June 10, 2022, 5:59 p.m. EDT) — A Texas bankruptcy judge on Friday granted a request by the operator of Dallas’ Edgemere retirement community to withdraw $10.1 million in Chapter 11 funding , but said it would also be required to set aside funds to make his lease payments.
U.S. Bankruptcy Judge Michelle Larson issued bench rulings allowing Northwest Senior Housing Corp. to underwrite debtor-in-possession financing from a bond trustee while partially granting a separate request from the Edgemere owner for steps to ensure that Northwest will pay its rent on the property.
Northwest filed for Chapter 11 protection on April 14, citing nearly $112 million in debt, declining occupancy…
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