All parties involved in the Ford’s Colony Country Club Bankruptcy proceedings will report back to the Norfolk Bankruptcy Court on November 4, 2010 after a little over a 30 day mediation period. The parties last met at the end of September and the Judge hearing the case requested that parties consider mediation to avoid the process becoming further bogged down in legal processes. Club manager Steve Dreybus stated “we believe that our financial and operational plan is sound, viable, and in the best long-term interest of our membership and the property owners living in Ford’s Colony. It is important that our members stay involved and work through the Creditor’s Committee to ensure that your voices are heard and your interests are protected.” The ultimate goal, of course, is to secure a formal plan of reorganization. Once that has been determined then creditors can vote upon the plan. This has surely been a painful process for the Country Club and it’s members. The good news is that the Club and it’s creditors are working through the mediation process and will hopefully come to a resolution as to the best way to pull the Club out of the quagmire. As far as the neighborhood is concerned, it is surely important to distinguish the Ford’s Colony Home Owner’s Association from the Country Club. Unlike our neighbors in Governor’s Land, there is no mandatory social country club membership. The two groups (FCHOA and FC Country Club) certainly have some duplicate members, but the majority of homeowners in FC do not belong to the Country Club. For prospective residents the distinction is an important one.
The most important point to make is that of the “Big 3” gated and golf course communities in Williamsburg not one has been without an ‘issue’ of some sort over the last 12 months. Kingsmill has dealt with the uncertainties of the In-Bev acquisition of Anheuser-Busch and what will surely be the subsequent sale of the neighborhood. Governor’s Land has faced issues with their mandatory social country club membership and the dues associated with the membership. What to expect? A failure on the part of the Country Club benefits no one. Let’s hope that a prior statement made by Mr. Dreybus will hold true: “As mentioned in past updates, the Club and Prudential were close to an agreement at the outset of this process.” If they were close to an agreement at the outset, then surely an agreement can be reached during this mediation process that will allow for the Club to recover- in the best interests of the Club’s members and its creditors as well as the neighborhood as a whole.
Like this:
Like Loading...
Published by
Deelyn Robinson
Hello and thank you for visiting my blog all about Ford's Colony!
Since 2007 I have been THE TOP OVERALL SALES AGENT with the highest gross sales of all Liz Moore agents in Williamsburg. In fact, I annually lead ALL local agents in total closed sales.
As your full-service Realtor for the Williamsburg, James City County and Greater Williamsburg areas, I will provide you with superior service at all times. I've lived in Williamsburg nearly 30 years, giving me a wealth of "local knowledge" of the entire region, so I can provide clients with the best possible real estate experience.
If you are selling a home, my expertise and proven marketing programs will give you the exposure and edge you need to sell your home quickly for top dollar. I have a comprehensive marketing plan to ensure your home stands out:
As an Accredited Staging Professional, I am well-versed in staging homes and preparing them for market. I provide all necessary furnishings and home accessories FREE OF CHARGE!
After staging, I work with a professional photographer to capture your home's best features in still photos and 3D virtual tours.
Your home will be listed in both the Williamsburg MLS as well as the Newport News/Hampton MLS (REIN). This ensures that your home is available through sites like Realtor.com, Zillow.com and Trulia.com. Your home will also appear on my website PremierWilliamsburgRealEstate.com as a Featured Home.
Your home will also have representation through print advertising in The Daily Press, The Virginia Gazette, direct marketing and other outlets.
If you are buying, I look forward to helping you find the home of your dreams by taking time to listen to your needs and desires. I am familiar with all of the neighborhoods in the James City County, Williamsburg, Toano, York County, Lanexa and Stonehouse areas. I can help folks new to this area become acquainted with all that it has to offer and gain confidence and comfort during their move.
A little about me: I am a 1988 graduate of The University of Texas at Austin with a degree in Economics. Hook 'em Horns! I have earned the "Accredited Staging Professional" credential to help home sellers in staging their homes to sell quicker and usually for more money. I also have the SFR - Short Sales and Foreclosure Resource Specialist designation. I help any client who is struggling with a mortgage to learn options to avoid foreclosure and also help any clients who are in a short sale situation.
I love Williamsburg! It is an excellent place to live, and I would love to share my enthusiasm for its many neighborhoods and attributes with you. Please let me help you with your next move. -- Deelyn
View all posts by Deelyn Robinson
All parties involved in the Ford’s Colony Country Club Bankruptcy proceedings will report back to the Norfolk Bankruptcy Court on November 4, 2010 after a little over a 30 day mediation period. The parties last met at the end of September and the Judge hearing the case requested that parties consider mediation to avoid the process becoming further bogged down in legal processes. Club manager Steve Dreybus stated “we believe that our financial and operational plan is sound, viable, and in the best long-term interest of our membership and the property owners living in Ford’s Colony. It is important that our members stay involved and work through the Creditor’s Committee to ensure that your voices are heard and your interests are protected.” The ultimate goal, of course, is to secure a formal plan of reorganization. Once that has been determined then creditors can vote upon the plan. This has surely been a painful process for the Country Club and it’s members. The good news is that the Club and it’s creditors are working through the mediation process and will hopefully come to a resolution as to the best way to pull the Club out of the quagmire. As far as the neighborhood is concerned, it is surely important to distinguish the Ford’s Colony Home Owner’s Association from the Country Club. Unlike our neighbors in Governor’s Land, there is no mandatory social country club membership. The two groups (FCHOA and FC Country Club) certainly have some duplicate members, but the majority of homeowners in FC do not belong to the Country Club. For prospective residents the distinction is an important one.