Filing Alert: Chen Foundation Chapter 11
Chen Foundation, Inc., a single asset real estate company whose principal asset is a property at 250 Lafayette Street in New York, NY, filed for Chapter 11 p...
Chen Foundation, Inc., a single asset real estate company whose principal asset is a property at 250 Lafayette Street in New York, NY, filed for Chapter 11 protection on Mar. 13 in the U.S. Bankruptcy Court for the Southern District of New York.
The company reports $28.4 million in assets and $30.7 million in liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 26-10545.
Top Unsecured Claims
Key Parties
Counsel:
- Leo Jacobs
Jacobs P.C.
Email: leo@jacobspc.com
Signatories:
- Ted Chen – President
Equity Security Holders:
- Dr. Tsing-Fang Chen – 25% Equity Interest
- Julie Chen – 25% Equity Interest
- Lucia Chen – 25% Equity Interest
- Ted Chen – 25% Equity Interest