Debtor The Vines at Tabor, a California limited partnership, filed with the U.S. Bankruptcy Court for the Eastern District of California, Sacramento Division, a Chapter 11 Plan of Reorganization and a Disclosure Statement on April 10, 2020.
Post-confirmation, the Debtor will sell its real property located at 200 E. Tabor Avenue, Fairfield, California without further court order of the Bankruptcy Court. Funds from the sale will pay all claims including priority, secured and unsecured claims in full. The Debtor will continue to provide security and maintenance to the Property pending the sale.
Holders of Class 5 General Unsecured Claims will recover 100 percent. From the proceeds of the sale, the Debtor estimates 100% of allowed unsecured claims will be paid in full by Oct. 15, 2020.
In the event of a default, this Claimant may exercise all of its remedies available under applicable state law. Likewise, Debtors maintain all rights and protections of California Real Property and Foreclosure Law. Claimant may not repossess or dispose of their collateral so long as Debtor is not in material default under the Plan.
Class 6 Equity Interest Holders of the Debtor in the Property of the Estate. Current Equity Interest Holders of the Debtor will retain their full interest in the equity that they hold.
By Oct. 15, 2020 Debtor believes it will have sold the Property. The Debtor estimates the sale would net $494,451 after payments to secured lien holders.
A full-text copy of the Disclosure Statement dated April 10, 2020, is available at https://tinyurl.com/vnt7rjm from PacerMonitor at no charge.
The Debtor is represented by:
122 LAW OFFICES OF GABRIEL LIBERMAN, APC
Gabriel E. Liberman
1545 River Park Drive, Suite 530
Sacramento, California 95815
Telephone: (916) 485-1111
Facsimile: (916) 485-1111
About The Vines at Tabor
The Vines at Tabor, a California limited partnership, sought protection under Chapter 11 of the Bankruptcy Code (Bankr. E.D. Cal. Case No. 20-20975) on Feb. 24, 2020. At the time of the filing, the Debtor disclosed assets of between $1,000,001 and $10 million and liabilities of the same range. Judge Christopher D. Jaime oversees the case. The Debtor tapped the Law Offices of Gabriel Liberman, APC, as its legal counsel.