BANKRUPTCY AND TAMARAC BANQUET HALL

Bankruptcy and Tamarac banquet hall. A banquet hall in Broward County known to many is going on the auction block. This is due to a bankruptcy filing. The bankruptcy court will be conducting the auction. Diamante’s banquet hall was enjoyed by Broward County residents and visitors for some time. The facility in Tamarac, Florida ran into money problems. The building is 37,782 square feet. It has two full kitchens and 217 parking spaces. Many banquets have been held there. The problems hit home when the property owner, Genesis Christian Center was hit with a foreclosure action. The owner sought the advice of a bankruptcy lawyer. Options were discussed. The only solution to the debt was to file for bankruptcy. A Chapter 7 bankruptcy was filed in 2013. In order to pay the creditors, the banquet hall is being sold at auction. Sometimes it best to get a fresh start. When debts become too much, it is best to escape the burden of those debts. A sale of the property is good for all the parties involved. The creditors will at least be able to get some of the money that is due. The property owner was set to lose the property anyway. By going to see a bankruptcy attorney, a solution was found. One that will help the property owner get out of a debt that could just not be paid. This created the chance for a fresh start. Without debt hanging over the property owner’s head. Bankruptcy lawyers put in hard work to make the best of this situation. The trustee will gain what he can from the sale in order to pay creditors. The property owner will be able to start over. Hopefully the banquet hall can reopen with new ownership.This will allow those in Tamarac and Broward County to enjoy the facility for years to come.