| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers L > Headlines for Le Centre on Fourth LLC > News item |
Le Centre on Fourth hotel co-owner requests bankruptcy case dismissal
By Caroline Salls
Pittsburgh, Nov. 15 – Le Centre on Fourth LLC hotel co-owner Al J. Schneider Co. asked the U.S. Bankruptcy Court for the Southern District of Florida to dismiss the company’s bankruptcy case, arguing that “the debtor filed the case without corporate authority,” according to a motion filed Wednesday.
If it is not dismissed, Al J. Schneider said the case should be transferred to the U.S. Bankruptcy Court for the Western District of Kentucky.
“The bankruptcy case is a misplaced attempt to resolve an ongoing partnership dispute between the two members and co-managers of the debtor,” Al J. Schneider said in its motion.
In addition, Al J. Schneider said the Southern Florida court is not the appropriate forum to resolve a partnership dispute that is already the subject of litigation and involves a solvent Delaware limited liability company with just two creditors and with just a single asset, which is located in Kentucky.
“All of the assets, agreements, key lending relationships, books and records, employees, management personnel, tenant relationships and prospects reside in Louisville,” Al J. Schneider said. “The debtor has no genuine business connection with Florida, other than the fact that it is where one of the partners, Eric P. Bachelor, owns a home.”
According to the motion, Le Centre on Fourth has more than $6 million of cash available to it, its operations are increasingly profitable, and it is capable of meeting its obligations to creditors.
Al J. Schneider also said in the motion that Bachelor filed the bankruptcy case “without proper corporate authority, and in deliberate disregard for the rights of his business partner.”
Plantation, Fla.-based Le Centre on Fourth is the holding company for the Embassy Suites hotel in Louisville, Ky. The company filed bankruptcy on Nov. 10 under Chapter 11 case number 17-23632.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.