Bank makes play to take over golf course
March 4, 2010 by Aaron Kremer · 3 Comments
The biggest lender to an upscale golf course in Hanover County wants to take the course back from the owners/operators.
Essex Bank, which is owed about $8 million and is not receiving payments, filed a motion in bankruptcy court Wednesday asking a judge to remove the Federal Club from bankruptcy protection.
“The Bank intends to assume management of the Golf Course, the surrounding property, and intends to fund the Golf Course’s on-going operations until a buyer can be found,” the filing says. Read more
New bank finally opens; paperwork not quite done
December 31, 2009 by Aaron Kremer · Leave a Comment
“We are in business and talking to customers, opening deposits and making loans.”
Xenith Bank president and CEO Galyon Layfield has been waiting more than a year to say that.
Richmond-based Xenith Bank originally wanted to start a new bank from scratch, but because federal regulators were not letting new banks form, the founders bought a bank in Hampton Roads. That slowed them down considerably. Read more
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
More residential units coming in Manchester
June 15, 2009 by Al Harris · 5 Comments
Another warehouse in Manchester is getting the apartment treatment.
The Perry Place Apartments complex is under construction in what was most recently home to Acme Paper & Supply Company. Read more
