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IN RE CITY OF CHESTER

Bankruptcy No. 22-13032-AMC Adv. Proc. No. 22-00084-AMC.

655 B.R. 555 (2023)

IN RE CITY OF CHESTER, Debtor. City of Chester, Plaintiff, v. PHCC LLC d/b/a Preston Hollow Community Capital, et al., Defendants.

United States Bankruptcy Court, E.D. Pennsylvania.

Signed November 3, 2023.

Attorney(s) appearing for the Case

Hannah Berny, David E. Lemke, Blake Daniel Roth, Holland & Knight LLP, Nashville, TN, Kevin J. Carey, Hogan Lovells US LLP, Philadelphia, PA, Nicholas M. Engel, David B. Smith, Smith Kane Holman, LLC, Malvern, PA, William W. Kannel, Keith Kollmeyer, Timothy J. McKeon, Alyssa C. Scruggs, Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C., Boston, MA, Louis M. Kodumal, Mancini & Kodumal, PLLC, Media, PA, Lawrence J. Kotler, Drew S. McGehrin, Duane Morris LLP, Philadelphia, PA, Joel C. Shapiro, Blank Rome Comisky & McCauley LLP, Philadelphia, PA, for Defendants.

Matthew A. Hamermesh, Michael J. Masciandaro, Jackson D. Teague, Hangley Aronchick Segal Pudlin & Schiller, Philadelphia, PA, for Plaintiff.

OPINION

I. INTRODUCTION

In this adversary proceeding initiated by Chapter 9 debtor, the City of Chester, Pennsylvania ("City") against PHCC, LLC, d/b/a Preston Hollow Community Capital ("PHCC") and Preston Hollow Capital, LLC (together with PHCC, "Preston Hollow"), the holders of...

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