Creditors seek dismissal of Dallas Senior Home Ch. 11 Loan

By Jeff Montgomery (May 20, 2022, 7:31 p.m. EDT) – Unsecured creditors of the bankrupt 400-bed Edgemere retirement community in Dallas have asked a Texas bankruptcy judge to reject a chapter funding loan proposal 11 of $10.1 million, unless amended, citing language that overwhelmingly favors a bond trustee over the estate and unsecured creditors.

In an objection filed Thursday, the committee argued that the loan to be provided by UMB Bank, trustee of approximately $111.7 million in bond debt, may be insufficient to fund the deal and includes terms that give the lender effective control over the use of the funds and the deal.

Among the concerns of…

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