Case Study:
Regent Park Capital
Harney appointed as Post-Confirmation Trustee In re: Regent Park Capital
Harney was appointed as Post-Confirmation Trustee In re: Regent Park Capital, a hard-money lender.
The borrower previously, and imprudently, sold off the prime commercial frontage to a storage company (Life Storage) which made the property undevelopable for residential development purposes.
The Solution
Harney sold or collected on all loans in the portfolio, except for one non-performing loan with collateral consisting of a 40-acre development tract in Williamson County, Texas.
To facilitate the disposition of the property, the Bankruptcy Court appointed a member of Harney as a federal court receiver over the property.
With that authority, the Plan Trustee – and now Receiver – listed the property for sale.
The Results
Ultimately, the property was sold to the City of Round Rock to build further sports fields and park space.
Services & Roles
Fiduciary Services
Post-Confirmation Trustee
*Some engagements may have been performed by team prior to joining Harney Partners.
