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David Tepper's real estate holdings company files for bankruptcy

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CHARLOTTE, N.C. (QUEEN CITY NEWS) – The Rock Hill-Panthers project is officially over.

According to GT Real Estate Holdings, the company has begun a court-led bankruptcy process in Delaware to move forward with the wind-down of the Rock Hill project.

The Carolina Panthers and City of Rock Hill terminated project agreements in April after citing failure to issue bonds or provide funding for the team’s $800 million training facility.

RELATED | Panthers terminating agreement with Rock Hill for $800 million training facility, GTRE says

The company released the following statement regarding the filing:

In recent weeks, GTRE has been confronted with various claims, some valid and some not, from vendors, contractors, and other third parties, including York County, SC. GTRE is taking this action to ensure legitimate claims are processed as fairly and expeditously as possible under a court supervised process, and to achieve the project’s orderly and safe wind-down. GTRE intends to resolve its legitimate obligations.

GT Real Estate

Tepper Sports & Entertainment, the Panthers, Charlotte FC, and other TSE affiliates are unaffected by the filing and will operate their business without interruption.

This is a developing story. Stay with Queen City News for updates.



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