Bankruptcy Articles

Two North Carolina Boutique Hotels Seek to Restructure in Chapter 11

Hendren, Redwine & Malone filed chapter 11 for two boutique hotels located in the triangle area.  The restructuring plan includes the marketing and sale of the Debtor’s Durham hotel, which will result in full payment of all claims associated with that location.  Further, the profits from the sale will be used to restructure the operations of the Company’s Cary, North Carolina location.

Eastern North Carolina Farmer Files Chapter 11 Reorganization Case

Hendren, Redwine & Malone filed Chapter 11 for a large Eastern North Carolina farming operation in May 2018.  The farm’s restructuring Plan includes the elimination of certain unprofitable crop operations, along with the sale of unnecessary real estate and equipment.  The newly streamlined operation will allow the Debtor to return to profitability and restructure all of his payments obligations so that they are more affordable.

North Carolina Cardiology Practice Exits Chapter 11 Successfully

Hendren, Redwine & Malone filed Chapter 11 for an Eastern North Carolina cardiology practice in September 2017.  The case was filed to stop creditor execution efforts against the practice.  We are pleased to announce that the Company’s Chapter 11 Plan was approved by the Bankruptcy Court in March 2018, and the Company has now successfully exited the bankruptcy process!

North Carolina Farmer Successfully Reorganizes

Hendren, Redwine & Malone filed Chapter 11 Bankruptcy for Eastern North Carolina farmer in 2017.  The case was filed to allow the farmer the opportunity to restructure all of his debt relationships with his creditors and to downsize the operations.  The restructuring Plan was approved in March 2018, and the farmer has now exited bankruptcy successfully.  We were honored to be a part of this successful case.

North Carolina Home Care Services Company Files Chapter 11 Bankruptcy

Hendren & Malone filed Chapter 11 Bankruptcy for a home care services agency on June 3, 2014.  The case was filed to give the company an opportunity to restructure its IRS and State of North Carolina obligations.  The Plan of Reorganization is due to be filed in September.  The company has been operating for seventeen (17) years and has approximately 400 employees.

Raleigh Medical Device Company Emerges From Chapter 11

Hendren & Malone filed Chapter 11 Bankruptcy for a local medical device company in January 2014.  The Company’s operations were impacted due to reduced Medicaid reimbursement rates for medical devices and related supplies and services.  The Company’s Chapter 11 Plan was recently approved by the United States Bankruptcy Court for the Eastern District of North Carolina.  We are pleased that the Company’s reorganization was successful.

Raleigh Based Commercial Real Estate Company Prepares to Emerge Successfully from Chapter 11

Hendren & Malone filed Chapter 11 Bankruptcy for Commercial Real Estate Company in Raleigh in December 2013.  The Bankruptcy Court has now approved the company’s Chapter 11 Plan, which allows the company to retain all of its assets and pay its creditors in full over time.  Chapter 11 filing stopped a bank foreclosure  and allowed the company time to restructure all of its debts.  We are very pleased that the company will get a fresh start.

Raleigh Commercial Real Estate Company Prepares to Emerge from Bankruptcy

Hendren & Malone filed Chapter 11 Bankruptcy for a Commercial Real Estate Company in October 2013.  The Company will appear in Court next week to have its Chapter 11 Plan confirmed.  The Debtor will enjoy a multi-year marketing plan to maximize the value of its office building.  It is anticipated that the Plan will result in the satisfaction of all creditor claims.

Multi-State Restaurant Operation Emerges From Chapter 11 Reorganization Successfully

Hendren & Malone filed Chapter 11 for a multi-state restaurant chain last fall.  After restructuring all of its debts and terminating operations at unprofitable locations, the Durham based restaurant chain has emerged from Chapter 11 successfully.  We are very pleased that the company has returned to profitability and will continue to provide jobs for its many employees.

Cary, North Carolina Commercial Property Protected From Bank Foreclosure

Hendren & Malone recently completed a Chapter 11 sale of commercial property located in Cary, North Carolina.  The Company successfully avoided foreclosure and retained ownership of the property for more than two years while it marketed and sold its assets.  As a result of the Chapter 11 sale process, all creditors were paid in full, with a return to the shareholders.  Call us today if you are facing bank collection action, including foreclosure.