While still marred with at least four active unpaid construction work claims, Dallas-based property owner Deer Creek Village, LLC filed for Chapter 11 bankruptcy on November 30, 2020.
Deer Creek Village — headquartered at 3525 Turtle Creek Blvd, Dallas, TX — claims they owe $5.89 million to at least 16 creditors, with a handful of creditors consisting of general contractors and subcontractors.
In the filing released by the US Bankruptcy Court for the Northern District of Texas, Deer Creek Village states that the collateral backing the Rudy’s Country Store & BBQ is worth $6 million.
When Deer Creek Village filed for Chapter 11 bankruptcy in late November 2020, the property owner reported having:
- $5,892,729 in total liabilities
- $0 in accounts receivable
- $500 in total checking
What is Chapter 11 bankruptcy?
USCourts.gov explains that Chapter 11 bankruptcy “generally provides for reorganization” of the debtor’s business affairs, debts, and assets.
When filing for Chapter 11 bankruptcy, which typically involves a corporation or partnership, debtors draft a plan of reorganization to salvage their business while still paying back their creditors over time.
There are several conditions that can prevent a debtor from filing for Chapter 11 bankruptcy or any other chapter. For example, USCourts.gov explains a debtor cannot file for Chapter 11 bankruptcy if “during the preceding 180 days, a prior bankruptcy petition was dismissed due to the debtor’s willful failure to appear before the court or comply with orders of the court, or was voluntarily dismissed after creditors sought relief from the bankruptcy court to recover property upon which they hold liens.”
A debtor may also be unable to file for Chapter 11 bankruptcy if they have received credit counseling from an approved credit counseling agency within 180 days before filing.
List of creditors from Deer Creek Village’s bankruptcy filing
Deer Creek Village’s bankruptcy filing reports that the property owner has 11 unsecured claims worth a combined $1,120,376.08 in outstanding debt.
Seven of the property owner’s unsecured claims involve contractors, with debts ranging from $670.44 to $894,823.84 — combining for a total value of $1,066,530.64.
- K-D Partners, LLC – $894,823.84
- DFW Paving (c/o Matthew Goetz) – $108,080
- Greg Edwards Engineering – $46,785.83
- HCC Contracting, LLC – $7,500
- R.E. Cupp, LP – $7,139.43
- G.J. Seeding, LLC – $1,531.10
- Tarradyne Engineering, Inc. – $670.44
The Deer Creek Village bankruptcy filing lists five creditors with secured claims totaling $4,772,353.07.
Deer Creek Village faces 4 mechanics liens
Four mechanics lien claims filed against Deer Creek Village’s property at the Rudy’s Country Store & BBQ in Burleson total a combined $123,389.87 in unpaid construction work.
Subcontractor DFW Paving, which is listed as one of Deer Creek Village’s creditors for an unsecured claim, filed the largest lien on December 16, 2019.
DFW Paving’s lien claim was pursuant to the subcontractors contract with K-D Partners, which also has an unsecured claim with Deer Creek Village worth $894,000.
On January 14, 2020, underground utility subcontractor Xkava filed a lien worth $7,500 against Deer Creek Village’s restaurant property. The subcontractor is not listed as a creditor on Deer Creek Village’s bankruptcy filing.
Xkava’s lien was filed pursuant to a contract with HCC Contracting, also listed as a creditor to Deer Creek Village.
The third-largest lien was filed by excavating subcontractor R.E. Cupp, LP on December 13, 2019 against K-D Partners worth $7,139.43.
Tarradyne Engineering’s lien claim worth $670.44 was filed directly against Deer Creek Village on March 4, 2020.