Rabu, 21 September 2011

Troubled company p.e.i owes $13 M

The company that owns Charlottetown's new Holman Grand Hotel has filed for creditor protection.The company, the the Charlottetown new Holman Grand Hotel has has filed for bankruptcy protection. CBC

Global real estate company owes Homburg invest a p.e.i. Crown Corporation 13 million, a list of creditors released this week.

Homburg invest, part of a group of affiliates with the name of which reported Homburg, to avoid bankruptcy protection earlier this month in the hope of its debt restructuring and insolvency. It has several Charlottetown properties, including the new Holman Grand Hotel on Grafton St

The list shows $ 13 million due to the island investment development Inc, a Crown Corporation, as well as more than $2 million compared to 29 private companies of the island. The private creditors are some that were awarded to the new hotel work.

In a letter to Homburg invest of creditors from the ordered monitor Deloitte & Touche are court creditors said the company tries, come with a plan to its financial house in order. If this plan is completed, creditors in a position will vote their claims against Homburg and a meeting of the proposed plan.

If Homburg invest, result from bankruptcy protection may be to wipe it assets, some of its debt to sell. It is not clear taxpayers, creditors or the new Holman hotel, what could that mean for p.e.i.

Homburg problems last week question, said p.e.i. innovation Minister Allan Campbell his Government was a series of solvent Homburg company deal, and there was no cause for concern.

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