Chapter 11 Filing – Golden Seahorse LLC
On November 29, 2022, Golden Seahorse LLC, the owner of the Holiday Inn in Manhattan’s Financial District, filed a petition for relief under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court for the Southern District of New York (Case No. 22-11582). The case has been assigned to Judge Philip Bentley. The filing follows the September 27 appointment of a state court receiver.
The Debtor reports $175.8 million in assets and $143.4 million in liabilities. According to the first day declaration, the Debtor will pursue a plan to reorganize its secured debt or facilitate a sale. The Debtors intend to fund the case through the use of cash collateral with the consent of its prepetition secured lenders, who the Debtor claims are oversecured.
Cole Schotz does not represent the Debtor in this case. We are posting this for informational purposes only. If you have received a notice and have any questions, you should contact Debtor’s counsel.
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