MidSouth Bankruptcy Moved to Mediation

For those of our blog readers who are interested in the news about Fairfield Harbour, we are posting this right away. Mediation can be a good thing, says Margaret Rose, President of Neuse Realty. Let’s see what the judge thinks, and we will keep you posted. Every property owner has a stake in the outcome.

MidSouth Bankruptcy
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We have been notified that the Bankruptcy Administrator handling the MidSouth Chapter 11 bankruptcy has requested “that the Court refer this matter to mediation.” If the judge agrees, a date will be set for MidSouth, Wells Fargo (the MidSouth mortgage holder), and the POA to “discuss various options for continued operations, protect homeowner values, provide the Community with recreation, and preserve the value of the collateral.” We will provide updates as this moves forward.

 

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