Thursday, July 18 2024

After 5 months of “legal haggling back and forth” it appears all parties involved in the failed Carolina Panthers headquarters project in Rock Hill have agreed to a bankruptcy plan and the court is prepared to approve it !! The Charlotte Business Journal reports that during a hearing yesterday afternoon before the U.S. Bankruptcy Court for the District of Delaware, lawyers for GT Real Estate and York County said the two sides anticipated completing a settlement agreement. Terms of the settlement were not immediately disclosed but it is known York County wanted Tepper to send back the $21 million it had advanced for the widening of Mt. Gallant Road. The attorney representing GT Real Estate, called the agreement a “milestone” in the case…The judge overseeing the case said she was happy to see the sides find consensus. GT Real Estate’s Chapter 11 plan now seems to have secured the support of the city, county and general contractor for the Panthers project.. The confirmation hearing granting the court’s approval is scheduled for December 14th.

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