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Article: Park City: Is It In Good Health? ; In Surprise Move, Mall Files For Bankruptcy A Week After Its Owner. But Action Challenged In Court.
- Article from:
- Lancaster New Era Lancaster, PA
- Article date:
- May 6, 2009
- Author:
CopyrightCopyright 2009 Lancaster New Era Lancaster, PA. Provided by ProQuest LLC. (Hide copyright information)
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What's a nice mall like you doing in a place like this?
In a surprise move, Park City Center recently filed for
bankruptcy reorganization.
And now that previously unreported decision is being questioned
by the firm that services its mortgage loans.
ING Clarion Capital opposes the bankruptcy, contending that the
170-store mall - the county's biggest - is in good financial health.
"There is no imminent threat to the financial stability of the
Park City Center," said the loan-servicing firm in a court filing
Monday.
Consequently, Park City has "no legitimate reason" to be in
bankruptcy, ING Clarion Capital maintained.
While the legal battle unfolds, it's business as usual at Park
City. Normal ...