Business & Tech
Capistrano Terrace Residents, Owners Resume Negotiations
A hearing Monday to determine whether the park's owner may disperse a $4.85-million insurance payout in spite of its recent bankruptcy filing was postponed to Oct. 17.
The residents and owners of a mobile home park on Valle Road are exploring a settlement that may allow them to wrap up a civil suit without interference from bankruptcy court.
on the civil suit that found the park's owners negligent in maintaining the utilities and common areas there. Included in the stay was a $4.85-million insurance payout offered to the residents shortly before .
"Yesterday's hearing on the matter of a request for relief for stay was continued while negotiations proceed among the various parties," said Ray Poulter, president of Advanced Group 03-79, a limited parternership that owns Capistrano Terrace.
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Poulter declined to elaborate further on what the negotiations may entail, saying he could not comment on ongoing legal matters.
The residents requested two weeks to negotiate, but Judge Mark S. Wallace is giving them until Oct. 17.
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In court documents, the residents' attorney wrote that both parties "have agreed to engage in discussions to explore a possible settlement that would resolve the motion for a relief from automatic stay."
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