All Members Will Have Say In Ford's Colony Country Club Bankruptcy Case

Tuesday, April 05, 2011

The judge in the Ford’s Colony Country Club bankruptcy case ruled Thursday that all club members get to vote on the future of the club.

Ford’s Colony Country Club filed for Chapter 11 bankruptcy protection last spring. The Club, Prudential and the Creditors Committee tried to work out a reorganization plan but couldn’t agree on one, so now competing plans will be up for a vote. Club members and Ford’s Colony residents have shared their thoughts on the case, calling for transparency and sound financial management as key features they expect in a reorganization plan.

The bankruptcy judge approved the various parties’ disclosure statements last week, which are documents that provide information to creditors on the plan of reorganization. The judge also ruled that all 900 club members will get a chance to vote on each of the two plans proposed. View the reorganization plan for Prudential and the creditor's committee here. View the debtor’s (Ford's Colony Country Club and Marsh Hawk Country Club) plan here.

Each plan will have its own ballot for members to vote on, and a third party firm will be used to mail the ballots and count the votes.

The next hearing will be on May 18.