Ron Lewis, owner of Evergreen Memorial Park and the man behind a planned development at Shaffers Crossing, filed for individual Chapter 11 bankruptcy reorganization on March 21 in the face of $19.2 million in liabilities and $7.8 million in assets.
Chapter 11 bankruptcy is a way for a debtor to reorganize and restructure debts while continuing to operate. It gives a debtor a respite from debt collection while he works out repayment plans with creditors.
See the story at [url=http://www.theflume.com" onclick="window.open(this.href);return false;]www.theflume.com[/url]
