New Bern

Eastern North Carolina Real Estate Company Chapter 11 Plan Confirmed

A residential real estate developer located in New Bern, North Carolina is prepared to emerge from Chapter 11 with a confirmed Plan of Reorganization.  On October 31, 2013, the Company received an Order from the United States Bankruptcy Court for the Eastern District of North Carolina confirming the Company’s Plan.  As a result of the Order, the company has resolved all issues with its primary lenders and can continue selling its real estate inventory in order to maximize value for the benefit of its creditors.