Tag: Bankruptcy
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Star Village and Aspen Park Are Going to Auction. Here’s What It Means For Tenants
Rapid City SD – For the people who live at Star Village and Aspen Park, the bankruptcy deciding the future of their homes has mostly played out in a courtroom in West Palm Beach, Florida, about 1,800 miles away, in filings that run close to 100 pages apiece. The answers to the questions tenants actually…
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The Deal That Was Supposed to Save Star Village from Auction Appears to Have Collapsed
Rapid City SD – For most of September, the story on Star Village looked like this: a settlement with a judgment creditor had pulled the Rapid City trailer park out of a straightforward bank liquidation and retitled it into a new ownership entity, as part of a broader $66.5 million refinancing deal. A new filing…
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BankWest Says Rushmore Hotel Made $305,000 in Unauthorized Payments – Has Until Oct. 6 to Pay It Back
Rapid City SD – The Rushmore Hotel’s lender says the hotel spent more than $300,000 it wasn’t allowed to spend, stopped sending the financial reports it’s required to send, and has six days to make it right — or lose its authority to use its own operating cash entirely, without another court hearing required. BankWest,…
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Rapid City Is Writing Off $33,840 in Past Due Tzadik Utility Debt Deemed Uncollectable
Rapid City SD – Tucked into a routine, $125,642.10 citywide utility write-off headed to the Rapid City Council on Oct. 5 is $33,840.53 in unpaid bills tied to Tzadik, the Florida-based landlord. The debt is spread across 93 individual line items in Appendix A to Resolution No. 2026-077, ranging from a 17-cent credit to a…
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Judge Mora Freezes $4.46 Million From Cheyenne River Ranch Sale After Creditor Accuses Adam Hendry Of Concealment
West Palm Beach FL – A federal bankruptcy judge has frozen $4,459,338.70 in proceeds from the sale of a South Dakota cattle ranch after a Toronto-based investment firm accused Adam Hendry of concealing its claim to the money throughout his personal Chapter 11 case — the second time, according to court filings, that the same…
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Bankruptcy’s Own Claim Agent Says It Hasn’t Been Paid, Moves to Force Tzadik Entities to Pay Up
West Palm Beach, FL – The company responsible for notifying every creditor in the Tzadik Sioux Falls Portfolio I bankruptcy has a complaint of its own: it says it hasn’t been paid, either. BMC Group, Inc. — the court-appointed Claims and Noticing Agent in the lead case (Case No. 25-13865-MAM) — filed a Motion to…
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Interim Order Bars Rushmore Hotel from Paying Adam Hendry or Any Entity He Controls
Rapid City SD – Judge Mindy A. Mora entered an Agreed Second Interim Cash Collateral Order in the Tzadik Mount Rushmore Hotel bankruptcy on Sept. 23, resolving a Sept. 9 hearing on the hotel’s request to keep using its own cash while the case proceeds (Doc. 62). BankWest, Inc., the hotel’s senior secured lender, initially…
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Star Village Deal Only Half -Approved, as Fannie Mae Says Hendry’s History of Stalling Isn’t New
Six days after the hearing, the order that actually moves the property still hasn’t been entered. Aspen Park, meanwhile, stays on track for a November auction. Rapid City SD – A federal bankruptcy judge has authorized Adam Hendry to sign and carry out the settlement that would determine Star Village’s fate — but as of…
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Hendry v Hendry: The Man Who Sues His Own Empire
Rapid City SD – Adam M. Hendry is, on paper, one of the most closely supervised people in South Dakota real estate right now. A federal Plan Administrator holds sole authority to sell his ranch, his hotel, and dozens of the LLCs that carry his name. A confirmed bankruptcy plan bars one of his own…
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The Rapid City Legal and Finance Committee Reject Tzadik’s Offer to Delay $643,000 Collection Suit
Mitch Richter — the same lobbyist Council President Stephen Tamang named on the record at the July 20 council meeting — stood before the Legal and Finance Committee Wednesday and asked it to hold off on suing Tzadik-linked LLCs over unpaid utility bills. The committee said no, and sent the item to full Council unanimously.…