IBJNews

Hawthorns Golf Club in Fishers files for bankruptcy

Back to TopCommentsE-mailPrintBookmark and Share

The owner of Hawthorns Golf & Country Club in Fishers is seeking bankruptcy protection from creditors and has asked the court to approve a loan that will carry it through the off-season.

Hamilton Proper Partners Golf Partnership LP listed assets of less than $50,000 and debts between $50 million and $100 million in Chapter 11 documents filed Jan. 24 in U.S. Bankruptcy Court in Indianapolis.

Hawthorns is a private membership club within HDG Mansur's Hamilton Proper residential community. It features an 18-hole, 279-acre championship course designed by Arthur Mills, according to its website. Located northeast of Geist Reservoir, the club has about 500 members, club officials recently told IBJ.

The bankruptcy filing comes after a lender filed a $4.8 million foreclosure lawsuit on the club and asked a Hamilton County court to appoint a receiver. The California-based lender, HGCC Lender LLC, recently purchased the loan from Rhode Island-based Textron Financial Corp.

Before selling the loan to HGCC, Textron had granted Hamilton Proper Partners several extensions or forebearance agreements while the golf course owner looked for alternative financing.

Hamilton Proper Partners now is seeking to borrow as much as $200,000 to help fund operations as it restructures, according to court papers. The company said its business won’t be interrupted, and obligations to customers and workers will be fulfilled.

“Due to the fact that the debtor operates a golf course and country club, its operations are seasonally dependent,” the company said in court papers requesting approval of the loan. “The debtor is in its traditionally slow season and as a result is in need of post-petition financing to assist it during this time.”

HGCC is listed in court documents as the largest secured creditor, with its $4.8 million claim. One of the largest unsecured creditors is the Harold D. Garrison Irrevocable Trust, with a $14.5 million claim for "periodic unsecured loans over a period of 20 years."

Harold D. Garrison is the general partner of Hamilton Proper, according to court documents. He also is the CEO of HDG Mansur.

According to court records, the largest unsecured creditor is Boca Raton, Fla.-based Sana Corp., which has a claim for $24.6 million in unsecured loans made over 20 years.
 

ADVERTISEMENT

Post a comment to this story

COMMENTS POLICY
We reserve the right to remove any post that we feel is obscene, profane, vulgar, racist, sexually explicit, abusive, or hateful.
 
You are legally responsible for what you post and your anonymity is not guaranteed.
 
Posts that insult, defame, threaten, harass or abuse other readers or people mentioned in IBJ editorial content are also subject to removal. Please respect the privacy of individuals and refrain from posting personal information.
 
No solicitations, spamming or advertisements are allowed. Readers may post links to other informational websites that are relevant to the topic at hand, but please do not link to objectionable material.
 
We may remove messages that are unrelated to the topic, encourage illegal activity, use all capital letters or are unreadable.
 

Messages that are flagged by readers as objectionable will be reviewed and may or may not be removed. Please do not flag a post simply because you disagree with it.

Sponsored by
ADVERTISEMENT

facebook - twitter on Facebook & Twitter

Follow on TwitterFollow IBJ on Facebook:
Follow on TwitterFollow IBJ's Tweets on these topics:
 
Subscribe to IBJ
  1. These liberals are out of control. They want to drive our economy into the ground and double and triple our electric bills. Sierra Club, stay out of Indy!

  2. These activist liberal judges have gotten out of control. Thankfully we have a sensible supreme court that overturns their absurd rulings!

  3. Maybe they shouldn't be throwing money at the IRL or whatever they call it now. Probably should save that money for actual operations.

  4. For you central Indiana folks that don't know what a good pizza is, Aurelio's will take care of that. There are some good pizza places in central Indiana but nothing like this!!!

  5. I am troubled with this whole string of comments as I am not sure anyone pointed out that many of the "high paying" positions have been eliminated identified by asterisks as of fiscal year 2012. That indicates to me that the hospitals are making responsible yet difficult decisions and eliminating heavy paying positions. To make this more problematic, we have created a society of "entitlement" where individuals believe they should receive free services at no cost to them. I have yet to get a house repair done at no cost nor have I taken my car that is out of warranty for repair for free repair expecting the government to pay for it even though it is the second largest investment one makes in their life besides purchasing a home. Yet, we continue to hear verbal and aggressive abuse from the consumer who expects free services and have to reward them as a result of HCAHPS surveys which we have no influence over as it is 3rd party required by CMS. Peel the onion and get to the root of the problem...you will find that society has created the problem and our current political landscape and not the people who were fortunate to lead healthcare in the right direction before becoming distorted. As a side note, I had a friend sit in an ED in Canada for nearly two days prior to being evaluated and then finally...3 months later got a CT of the head. You pay for what you get...

ADVERTISEMENT