Le Centre on Fourth subordinated claimants approve Chapter 11 plan

By Caroline Salls

Pittsburgh, Nov. 8 – Le Centre on Fourth LLC’s Chapter 11 plan was unanimously accepted by voting holders of subordinated claims, according to a report filed Thursday with the U.S. Bankruptcy Court for the Southern District of Florida.

Specifically, all seven holders of $11.33 million in subordinated claims voted to accept the plan.

Le Centre on Fourth said it held $2.4 million in cash as of Sept. 30.

The company said plan distributions will be made from the proceeds of exit financing and cash on hand as of the effective date.

The plan confirmation hearing is scheduled for Nov. 14.

Plantation, Fla.-based Le Centre on Fourth is the holding company for the Embassy Suites hotel in Louisville, Ky. The company filed for bankruptcy on Nov. 10, 2017 under Chapter 11 case number 17-23632.

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