Golf course files bankruptcy
October 28, 2009 by Aaron Kremer · 6 Comments
The Federal Club, a $9 million Arnold Palmer golf course and upscale housing development in Hanover County, has filed for Chapter 11 bankruptcy protection.
The course, which opened three years ago, lists assets of less than $50,000 and liabilities of between $1 million and $10 million, according to the bankruptcy filing. The company owes $4.96 million to unsecured creditors, many in Richmond. Read more
