A bankruptcy court judge in South Bend has thrown out a Chapter 11 bankruptcy filing by Chicago-based Ton Real Estate Investments X LLC, the buyer of Concord Mall in Elkhart. The Elkhart Truth reports the decision allows the mall’s previous owner to continue efforts to sell to a new buyer.
Ton acquired the mall in February 2020 from Concord Mall Properties LLC, but last July was declared in default for not paying the nearly $7 million price tag.
The Elkhart Superior Court judge who made the declaration also appointed South Bend-based Bradley Co. LLC as receiver for the property to manage the mall site. Concord Mall Properties was also allowed to pursue another sale of the mall.
The bankruptcy filing by Ton would have allowed it to regain control of the property, according to the publication. Concord Mall Properties asked the court to dismiss the filing, claiming it was only done to prevent the sale of the mall.
Judge Paul Singleton ordered the case be dismissed without prejudice.
You can read the full story from the Elkhart Truth by clicking here.