Buyers from Houston and Georgia failed each failed to post $100,000 deposits by a Jan. 30...
have fallen through after the prospective buyers failed to make deposits by a deadline imposed by a San Antonio bankruptcy court.under a reorganization plan filed in November.As a result, U.S. Bankruptcy Judge Michael Parker at a Monday court hearing declared both had effectively terminated their purchase agreements.
Alpharetta-based Highpoint Lifehope SPEC LLC, which owns the buildings, filed for bankruptcy protection in August after lender Capital One asked a court to appoint a receiver to take control of the properties. Woodbranch had subpoenaed both prospective buyers for information relating to the sales, including details about their finances and previous deals they’ve done, to demonstrate they could operate the properties.
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