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Update on Lake District LLC Bankruptcy Case

In a recent development in the Lake District LLC bankruptcy case, the United States Bankruptcy Court in Tennessee has granted the company temporary permission to use “cash collateral” to keep their business afloat. This decision comes with certain conditions and spending limits to ensure responsible use of the funds.

The court has also taken measures to protect the interests of another company, Romspen, which is involved in the case. A final hearing is scheduled for April 27, 2023, to determine whether Lake District LLC can continue using the cash collateral and to address any objections raised by involved parties.

Lake District LLC has released their 2023 Projected Operating Budget which provides an overview of their expected income and expenses for the upcoming months. The budget includes various expense categories such as Telephone/Fire alarm monitoring, Grease interceptor maintenance, Pest Control, Site Operation Administrator, Vacant space utilities, and Auto Expense & Insurance. The total CAM Expenses are projected to be $240,735.50.

In terms of income, the company expects to generate a total of $603,472.34 throughout the year. The budget also outlines expenses related to Landlord Tenant Work, Taxes & Insurance, and General & Administration. The total expenses for the year are projected to be $523,741.89, resulting in a net income of $79,730.45.

It’s important to note that these figures are projections and may change as the company navigates through its ongoing bankruptcy case.

Stay tuned for more updates on this ongoing bankruptcy case and its potential implications for Lake District LLC and its stakeholders.