Tag: Bankruptcy
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Judge Approves Auction Backstop for Rapid City Apartment Complexes as Refinancing Pursued in Lieu of Sale
RAPID CITY, S.D. — A federal bankruptcy judge cleared the way Wednesday for two Rapid City apartment complexes, Star Village and Aspen Park, to be sold at auction, setting up a final sale hearing for November 3 even as a separate, competing deal to refinance the properties remains in play. Judge Mindy A. Mora of…
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The Tzadik Mount Rushmore Hotel Files for Bankruptcy -And the Paperwork Wasn’t Even Signed
Rapid City SD – The company that owns downtown Rapid City’s Rushmore Hotel & Suites filed for Chapter 11 bankruptcy protection on August 13 — the second time in just over a year that a Tzadik-affiliated entity has put South Dakota property into federal bankruptcy court, and the first time it’s happened to a property…
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Tzadik’s Bankruptcy Is Closed. Rapid City’s Bill is Still Open
As the Florida-based landlord quietly exits Chapter 11, the city is left fronting over $125,000 for emergency demolitions while fighting to recoup half a million in unpaid utilities. Rapid City SD – Tzadik Management’s Chapter 11 bankruptcy closed quietly on June 26 — the same week the city, not the company, was still footing the…