The Country Inn remains open
The Country Inn will remain open while the bankruptcy case filed by owners 5042 Holdings Limited proceeds.
Judge Patrick Flatley of the Federal Bankruptcy Court in Martinsburg ruled at a July 26 hearing on two motions filed by the Inn’s legal counsel, Attorney Robert Trumble of McNeer, Highland, McMunn & Varner, L.C.
The two motions allow the Inn to continue paying wages and continue existing insurance policies while also allowing the Inn to purchase new insurance, if needed, to cover the property.
The motions were not challenged by opposing counsel and were so ordered by the judge, according to court records.
The orders allow The Country Inn to continue to operate. The Inn must submit a Chapter 11 plan for reorganization by November 14.
“With the protection of the bankruptcy court, we can move forward with our reorganization plan with the intent to satisfy our creditors and emerge from bankruptcy and reestablish The Country Inn as a viable business in Berkeley Springs,” Trumble said.
During the proceedings, the Inn’s financials will be under the supervision of the U.S. Trustee’s Office, he said.
Asked about formulating a reorganization plan, Trumble said, “No options have been eliminated.”
A so called “341” meeting of creditors, named after Section 341 of the Bankruptcy Code, is scheduled for Friday, August 17 at 1 p.m. in Martinsburg.
The meeting is required by law and is a chance for creditors to meet with the debtor and get a preliminary idea of the debtor’s financial situation. The U.S. Trustee’s Office will preside over the meeting.