El Dorado County (Aug 31, 2024, 2024) – New West Haven, a senior living facility in Cameron Park, has been thrust into financial uncertainty as its parent company, Brickton LP, recently filed for Chapter 11 bankruptcy protection. The bankruptcy filing, submitted last week, points to severe financial struggles amid ongoing legal disputes with Stearns Bank.<\/p>\n
According to court documents, Brickton LP lists New West Haven, a 17,000-square-foot property with the capacity to accommodate 67 residents across 34 units, as its only asset. The facility, which has been in operation since 2005, provides a range of services including assisted living, respite care, and an adult day care program. The property is valued at approximately $8 million, but Brickton LP faces $4.6 million in debt, largely owed to Stearns Bank.<\/p>\n
Stearns Bank filed a lawsuit against Brickton LP in April, alleging breach of contract and seeking to place the company into receivership. The bank\u2019s legal action adds a significant layer of complexity to the facility’s operations, potentially impacting the future of its residents and staff.<\/p>\n
Brickton LP leases the New West Haven property to another related entity for daily operations. State records reveal that Joel Matkovich of Granite Bay is listed as an officer for both entities. The unfolding bankruptcy and legal challenges cast uncertainty on the future of New West Haven, which has served the local community for nearly two decades.<\/p>\n
As the case progresses, the outcome will likely determine the path forward for the Cameron Park facility, its staff, and the residents who depend on its services.<\/p>\n","protected":false},"excerpt":{"rendered":"
A senior living facility in Cameron Park, New West Haven, finds itself entangled in financial distress as its parent company, Brickton LP, files for Chapter 11 bankruptcy protection.<\/p>\n","protected":false},"author":1,"featured_media":5515,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":{"source_name":"","source_url":"","via_name":"Cris Alarcon","via_url":"News@inedc.com","override_template":"0","override":[{"template":"7","single_blog_custom":"","parallax":"1","fullscreen":"0","layout":"no-sidebar-narrow","sidebar":"default-sidebar","second_sidebar":"default-sidebar","sticky_sidebar":"1","share_position":"float","share_float_style":"share-normal","show_share_counter":"1","show_view_counter":"1","show_featured":"1","show_post_meta":"1","show_post_author":"1","show_post_author_image":"1","show_post_date":"1","post_date_format":"default","post_date_format_custom":"Y\/m\/d","show_post_category":"1","show_post_reading_time":"0","post_reading_time_wpm":"300","post_calculate_word_method":"str_word_count","show_zoom_button":"0","zoom_button_out_step":"2","zoom_button_in_step":"3","show_post_tag":"1","show_prev_next_post":"0","show_popup_post":"1","number_popup_post":"1","show_author_box":"1","show_post_related":"1","show_inline_post_related":"1"}],"override_image_size":"0","image_override":[{"single_post_thumbnail_size":"crop-500","single_post_gallery_size":"crop-500"}],"trending_post":"0","trending_post_position":"meta","trending_post_label":"Trending","sponsored_post":"0","sponsored_post_label":"Sponsored by","sponsored_post_name":"","sponsored_post_url":"","sponsored_post_logo_enable":"0","sponsored_post_logo":"","sponsored_post_desc":"","disable_ad":"0"},"jnews_primary_category":{"id":"","hide":""},"jnews_social_meta":{"fb_title":"","fb_description":"","fb_image":"","twitter_title":"","twitter_description":"","twitter_image":""},"jnews_override_counter":{"override_view_counter":"0","view_counter_number":"0","override_share_counter":"0","share_counter_number":"0","override_like_counter":"0","like_counter_number":"0","override_dislike_counter":"0","dislike_counter_number":"0"},"footnotes":""},"categories":[6],"tags":[],"class_list":["post-5513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\n