New Delaware Chapter 11 – Delaware Sports Complex, LLC
Delaware Sports Complex, LLC, which operates an 180 acre indoor and outdoor sports facility and the 190 acre St. Annes golf course in Middletown, Delaware, has filed a petition for relief under Chapter 11 in the Bankruptcy Court for the District of Delaware (Case No. 17-11175). According to the Petition, the Debtor is filing as a small business debtor. The Petition estimates the Debtor’s assets and liabilities to both be between $1–$10 million. The Debtor has filed a DIP Financing Motion seeking authority to borrow up to $278,750 in order to fund its professional and statutory fees throughout the case. The Debtor has not moved to appoint a claims or noticing agent. The case has been assigned to the Honorable Kevin Gross.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication.
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