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Specializing in insolvency and complex commercial matters since 1974

Chapter 11 Plan Confirmed For 384 Unit Apartment Complex In Tampa - November 4, 2013

On November 4, 2013, the Honorable Michael G. Williamson of the United States Bankruptcy Court for the Middle District of Florida, Tampa Division, entered an order confirming the Plan of Reorganization for USA Broadmoor, LLC Under Chapter 11 of the United States Bankruptcy Code, as amended. USA Broadmoor, LLC is the owner of a 384 unit apartment complex located at 4939 East Busch Boulevard, Tampa, Florida. At the time of the filing, USA Broadmoor had obligations in excess of $11 million. The Plan provides for: (a) payment of the first mortgage holder’s $12.75 million claim with interest at 5% per annum over a period of four (4) years; (b) payment in full of junior lien claims with interest at 5% per annum over a period of four (4) years; and (c) payment in full of unsecured claims over a period of four (4) years. Scott A. Stichter, Edward J. Peterson, III, and Amy Denton Harris headed the firm’s representation of USA Broadmoor.