North Palm Beach, FL – Another Orthodox Jewish congregation has sought protection from federal bankruptcy laws due to outstanding bank debts.
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On Monday, Chabad House Lubavitch of Palm Beach, in North Palm Beach, filed Chapter 11 bankruptcy reorganization. The U.S. Bankruptcy Court filing lists debts of more than $1 million and assets of more than $1 million.
In an interview Tuesday, Rabbi Shloime Ezagui said the Chabad has been unable to make loan payments because contributions from patrons dropped off during the recession.
“What’s happening is we need money,” Ezagui said.
Chabad House Lubavitch, located on Prosperity Farms Road, is the second Palm Beach County Chabad to seek protection from U.S. bankruptcy laws. Last June, Congregation Chabad-Lubavitch of Boynton Beach filed Chapter 11, in a bid to stop the foreclosure of its property. After a donor stepped in to pay off part of a $3.8 million overdue loan to the Chabad’s bank lender, the foreclosure lawsuit was settled and the Chabad emerged from bankruptcy in December.
More at Palm Beach Post.
what a shame! they are really nice people they helped me out when i really needed it
whats their address?
lot of places need real help
god should just let me win the lottery and i would help them too!
We all have to live within our means.
Really is a pity. I guess we can’t understand everything….
Found them on web 844 prosperity Farms rd.
N. Palm Beach, Fl. 33408
Will be sending a check iyh.
I think in many places and/ or for some people they are using the excuse that the economy holds them back from donating. It’s a lame excuse.
People need to help more the unfortunate. There is money for Pesach programs, cruises, vacations , bungalow colonies, big simchas and down the street people are going hungry and are struggling.
The resources are there. We need to put them where they really will save people, chinuch etc.
People need to help more the unfortunate. There is money for Pesach programs, cruises, vacations , bungalow colonies, big simchas and down the street people are going hungry and are struggling.
Well said.