Filing Alert: Chen Foundation Chapter 11

Chen Foundation, Inc., a single asset real estate company whose principal asset is a property at 250 Lafayette Street in New York, NY, filed for Chapter 11 protection on Mar. 13 in the U.S. Bankruptcy Court for the Southern District of New York.

The company reports $28.4 million in assets and $30.7 million in liabilities. The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 26-10545.

Top Unsecured Claims

Key Parties

Counsel:

• Leo Jacobs
  Jacobs P.C.
  Email: [email protected]

Signatories:

• Ted Chen – President

Equity Security Holders:

• Dr. Tsing-Fang Chen – 25% Equity Interest
• Julie Chen – 25% Equity Interest
• Lucia Chen – 25% Equity Interest
• Ted Chen – 25% Equity Interest

Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.

Stay informed on every Chapter 11 bankruptcy case with liabilities exceeding $10 million. Subscribe for free to have our coverage delivered directly to your inbox, and explore our full archive of past summaries.

Explore Bondoro Insights for live case dockets and comprehensive coverage of material filings from petition to plan confirmation.