Victims of Bankrupt Builder Hoping for Help - NBC 10 Philadelphia

Victims of Bankrupt Builder Hoping for Help

New Hanover Township meets with THP homeowners Monday night.

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    NEWSLETTERS

    Victims of Bankrupt Builder Hoping for Help
    The Kingston Hill development is located in Gilbertsville, Pa.

    People who own homes built (or planned) by bankrupt builder, THP, will have to wait a little longer to find out if their local government can help out at all.

    New Hanover Township is home to two of the company's developments and has talked about going after more than one million dollars TH Properties has in escrow.

    Township Manager Ed Wagner, the solicitor and the township's engineer will met with residents of Hawthorne Estates and Kingston Hill Monday night. About 100 people attended the meeting, but no one got an answer.

    The township wants to wait until after THP's bankruptcy hearing on June 4 before deciding how to help. Officials then plan on holding a follow up meeting to announce their decision.

    Residents Wait On Dirt and Nails for THP Ruling

    [PHI] Residents Wait On Dirt and Nails for THP Ruling
    When THP Properties filed for bankruptcy, residents at communities which were still under construction were left without an answer as to when or if their development would be finished. Hopefully now, they will find out.
    (Published Monday, May 11, 2009)

    Hawthorne Estates, a THP development of 40 homes off New Hanover Square Road, is for the most part, finished, Wagner told the Pottstown Mercury. He said the unfinished work consists of the standard "punch list" items new homeowners normally go over with their builder.

    The Kingston Hill development is about midway through its eight phases of development, according to Wagner.  "There are seven or eight homes there that are halfway finished," he said.

    THP shut down abruptly last month and then filed for Chapter 11 bankruptcy protection on April 30. The Harleysville-based builder indicated in court documents that the company does plan to reorganize.

    Hundreds of homeowners are sharing information on a Web site called WheresBuilder.com.