Premier first filed for Chapter 11 bankruptcy protection in December 2009. But on Jan. 12, it withdrew its request for an extension of time to file all required schedules and statements, saying it had reached an agreement with the Greene County treasurer and that “contracts have been signed for the sale of the hotel.” The next day, Judge Lawrence Walter dismissed the case, citing a failure to file required documents.
Bill Parker, a Champaign County resident and managing member of Premier Hotel Group, declined comment Monday on the latest filing. The company’s bankruptcy attorney, Delena Edwards of Columbus, could not immediately be reached for comment Monday.
Parker earlier said the December filing wouldn’t affect the hotel’s operations. The hotel was still in business Monday.
The creditors holding the largest unsecured claims include Perpetual Federal Savings Bank ($2.18 million, $1 million of which is secured); Par-Mee Dev. Corp. of Cable, Ohio ($646,000); the Greene County treasurer ($245,542); and Baymont Franchise Systems of Chicago ($51,144).
A Chapter 11 bankruptcy filing frees a company from the threat of creditors’ lawsuits while it reorganizes its finances. The debtor’s reorganization plan must be accepted by a majority of its creditors.
Contact this reporter at (937) 225-7457 or bsutherly@DaytonDailyNews.com.
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