York County Issues Statement On GTRE Bankruptcy Filing

With the announcement last night that GT Real Estate Holdings, LLC, the company David Tepper created specifically for the Panthers headquarters project in Rock Hill, that it had filed for Chapter 11 bankruptcy in Delaware thereby effectively ending the team headquarter and practice facility in Rock Hill. GTRE said they took the action to ensure legitimate claims from the project are processed as fairly and expeditiously as possible under a court-supervised process, and to achieve the project’s orderly and safe wind-down.” One of those claimants is York County who released a statement this morning saying that York County contributed $21 million toward the upgrade of a section of Mt. Gallant Road, which borders the headquarters/practice facility property. The county in their statement said, that they believe those funds will be returned in full with interest, and County taxpayers are protected. The York County statement also said they were prepared for this action, and fully expect a positive outcome for their citizens.