Journal Register Co. Bankruptcy Stunts Wood-Vine Project
The right-of-way acquisition process for the Wood-Vine Connector in Lansdale is halted by as much as 90 days due to bankruptcy filing for the parent company of The Reporter. Property needs to be acquired from The Reporter property for the project.
It’s going to be at most 90 days before anything can progress further on the Wood-Vine Connector PCTI Project in Lansdale, due to the bankruptcy filing of the parent company of The Reporter affecting right-of-way acquisition.
Following a brief executive session last Wednesday, Lansdale Borough Council authorized Borough Manager Timi Kirchner to allow the law firm Eckert Seamans Cherin & Mellott, LLC to provide legal services on behalf of the borough in order to obtain relief from an automatic stay in Goodson Holding Company’s bankruptcy reorganization case.
Lansdale Borough, through Eckert Seamans Cherin & Mellott, LLC, will file a declaration of taking for the right-of-way owned by Goodson Holding Company and Journal Register Co. at Derstine Avenue and Wood Street in Lansdale.
“We’re not allowed to file legal action against anybody in bankruptcy without the bankruptcy court’s permission,” said borough solicitor Mark Hosterman. “The law firm council authorized to engage tonight will obtain that permission from the judge. We think it’s probably going to be applicable, but it could require a hearing.”
Hosterman said this process is holding up the final parts of the right-of-way acquisition for 60 to 90 days.
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