Ballamor Golf Holdings, Inc. Bankruptcy Case Information

The following are PDF files.

Notes

Posted Feb. 19, 2010
Ballamor Confirmation Order (PDF File)
On February 18, 2010, the Bankruptcy Court today approved the plan to reorganize Ballamor and convert it to a public golf course. The Confirmation Order approving the Plan can be found elsewhere on this site. If 10 days pass without an appeal notice being filed, the Confirmation Order will become final, the Plan will go effective, the Committee will be disbanded, and the first of 3 annual distributions will be made to the former members and other creditors.

Posted Feb. 9, 2010
Debtor's First Omnibus Objection to Claims
Download Debtor's First Omnibus Objection to Claims (PDF File)
Ballamor filed its first objection to claims. You can find the objection elsewhere in this site. One group of claims are objected to, because the amount stated in the proof of claim filed by the creditor is greater than the amount shown on the books of the company transferred by Delaney to Ottinger. Find Schedule A in the Objection to see if you are listed and the dollar amounts at issue. There is a second group of claims that Ballamor says were filed twice and those are listed in Schedule B in the Objection. Ballamor wants the Court to strike the second filed claim, so if you are in this second group, you should respond to make sure the court recognizes whichever claim was filed in the appropriate amount. The Objection also addresses other individual claims that are objected to for specific reasons mentioned. If your claim is the subject of an objection, you should receive direct notice in the mail from the Debtor's lawyers. The notice will give instructions on when and how to respond, but if you have any questions, call the Debtor's lawyers at Stevens & Lee. If you can not resolve the Objection to your satisfaction through direct contact with Stevens & Lee, you should consider retaining a lawyer to appear in Court with you. You have until March 15, 2010 to file a written response with the Court and a hearing is scheduled in Court on March 22, 2010 at 10 am.

Posted Jan. 19, 2010
Ballamor Claims Objection Schedule
Download Claims Objection Schedule (PDF File)
Claims Objections - the Debtor has filed a list of the claims to which it intends to object. You can find the schedule elsewhere on this site. If your name is on the list it does not necessarily mean the Debtor believes it owes you nothing. It could mean that the amount showing in the records they receive from Delaney shows a different amount due as a result of a credit or other transaction with Delaney. To find out why there is an objection to your claim, you should call Debtor's attorneys at Stevens & Lee - either Bob Lapowsky or Marnie Simon at 215.751.2885.

Posted Jan. 12, 2010
On January 11, the Bankruptcy Court gave its approval for the Debtor to solicit creditor approval for its reorganization that will transfer the golf club from a private to a public club and provide for repayment a compromise amount on account of membership deposits and all other unsecured claims. You will find the Order Approving Disclosure Statement posted to this web page along with the form of ballots you will receive in the mail from the Debtor's attorneys in the next few days. There are two (2) forms of ballot for members and other unsecured creditors and each has instructions on how to vote.
If your claim is less than $1,000 or you wish to reduce your claim to that amount and recover up to 90% by electing treatment under the Convenience Class, use the Class 3B Ballot. You will need to mark the box to Accept, under item 1 to receive a payment equal to 80% of the amount in which your Convenience Claim is Allowed up to $1,000 and you can receive an additional 10% of your Allowed Convenience Claim by checking the box at item 2 to elect to give the Release and the Assignment of Delaney Claims.
All other Holders of General Unsecured Claims should use the Class 3A Ballot. If you vote as a Class 3A creditor:
- To elect the dues credit option of 90% of your Allowed Unsecured Claim, you must check the box a item 3 of the Class 3A Ballot in addition to the box to accept the Plan in item 1 of the Ballot.
- To elect the maximum cash recovery of 65% of your Allowed Unsecured Claim above $1,000, you must check the box at item 4 of the Ballot in addition to the box to accept the Plan in item 1 of the Ballot.
IF YOU HAVE ANY QUESTIONS CONCERNING THE BALLOTS, PLEASE CONTACT MICHAEL J. VISCOUNT, JR. AT FOX ROTHSCHILD LLP, email:mviscount@foxrothschild.com, telephone: 609.572.2227.

Posted Jan. 9, 2010
Re: Filing Claims
The best way to assure that members and other creditors will receive a distribution on account of deposits and other claims against Ballamor is to file a proof of claim. A proof of claim form and a notice from the court with instructions can both be found elsewhere on this web site. The official deadline to file proofs of claim was January 4. However, the attorneys for the Debtor have been granting extensions for those who ask and react promptly. If you have not filed a proof of claim you can request and extension by calling either Bob Lapowsky or Marnie Simon at Stevens & Lee, attorneys for the Debtor. The telephone number is 215.751.2885.
Michael J. Viscount, Jr.

Posted Jan. 7, 2010
The Bankruptcy Court has entered an Order approving the Debtor's rejection of all membership agreement with the former club. A copy of the Rejection Order can be found elsewhere on the website. Now that the membership agreements are rejected, it means that the Debtor no longer has any obligations to the former members. However, it also means that the non-debtor party to each agreement - in this case each member - has what is called a "rejection damages claim". A rejection damages claim is a claim for whatever damages might be established by a member as the consequence of not achieving full realization of the benefit of the member's bargain under the rejected agreement.
In this case, it is not altogether clear what those damages might be or whether the damages can be liquidated in an amount that exceeds the amount of the deposit previously paid and not returned when Ballamor terminated the agreements. The Committee has no role in either asserting or litigating rejection damages claims. However, each member has the right to do that on his or her own or together if that is deemed to be in your individual or collective best interests.
If any member wishes to pursue a rejection damages claim on top of a claim for return of deposit, the claim needs to be filed with the Bankruptcy Court Clerk before the close of business January 22, 2010.