A limited liability company that owns a four story building in York that is linked to members of the multi-platinum rock band Live is about to come out of bankruptcy.
Chief Justice Henry W. Van Eck of the United States Middle District of Pennsylvania Bankruptcy Court on Tuesday granted 120 York LLC’s motion to dismiss its Chapter 11 bankruptcy case and indicated that he will sign a court order. The process allows companies to restructure and reorganize their debts.
The entity owns 210 York St., which is across from PeoplesBank Park, seat of the York Revolution. The building measures 53,000 square feet and has a “Think Loud” sign in black letters.
In the motion to dismiss, Robert Chernicoff, 120 York’s bankruptcy lawyer, wrote that the company “was looking for various avenues to restructure and reorganize.” He said it is believed a settlement is about to be reached with Kinsley Construction, who got a judgment of over $ 13.94 million in 2020 against 120 York.
Kinsley had previously moved so that the building was put up for sale by the sheriff. The bankruptcy case automatically puts this on hold.
It was not immediately clear what the potential settlement means for the building.
âWe are in the process of finalizing a settlement. We expect this matter to be resolved by the end of October, âKinsley said in a statement. âAt that time, we will provide additional information on the next steps in the building. “
Members of 120 York include Chad Taylor, Chad Gracey and Patrick Dahlheimer, respectively guitarist, drummer and bassist of Live.
United Fiber & Data, a telecommunications startup that builds 340-mile fiber-optic line from New York to Ashburn, Va., in the suburbs of Washington, DC, is headquartered in the building. This point, however, was contested in litigation.
Contact Dylan Segelbaum at 717-771-2102.