- July 9, 2010 - Crescent Resources Names Larry Corson Chief Executive Officer
- June 11, 2010 - Crescent Resources Successfully Emerges From Chapter 11
- May 24, 2010 - Crescent Resources Confirms its Plan of Reorganization and expects to emerge from Chapter 11 within weeks
- January 29, 2010 - Crescent Resources Files Plan of Reorganization and expects to emerge from Bankruptcy in Second Quarter 2010
- August 19, 2009 - Circle at Concord Mills Certified as Audubon Signature Sanctuary
- July 22, 2009 - Crescent resources receives final court approval for $110 million dip facility
- July 14, 2009 - Travel + Leisure Names Crescent Resources’ Palmetto Bluff The #1 Resort in the U.S.
- June 12, 2009 - Crescent Resources receives Court Approval on "First-Day" Motions, Including Initial Access to DIP Financing.
- June 10, 2009 - Crescent Resources Restructuring
- June 1, 2009 - Crescent Resources Names new Regional Vice President for Tennessee
- April 1, 2009 - Crescent Resources Multifamily Development Group to Open Circle at Concord Mills
- March 4, 2009 - Crescent Resources Multifamily Development Group to Open Circle at Crosstown
- February 17, 2009 - Crescent Resources Multifamily Development Group set to Open Circle at Bartram Park
- December 12, 2008 - Crescent Communities on Lake James Releases new Waterfront Homesites
- November 10, 2008 - Crescent Communities Releases Hottest Trends for 2009
- November 6, 2008 - Crescent Communities Tops Charlotte in Luxury Home Sales
- September 9, 2008 - Crescent Communities Dominates Luxury Home Market
- August 27, 2008 - The River Club Announces new Phase
- August 27, 2008 - Chapel Cove Hosts Charlotte Magazine’s 2008 Dream Home
- August 21, 2008 - Crescent Communities Continues to Lead in Home Sales
Crescent Resources, LLC is a leader in real estate markets throughout southeastern and southwestern United States, establishing a wide range of developments from commercial properties to award-winning residential communities.
Crescent News
CRESCENT RESOURCES SUCCESSFULLY EMERGES FROM CHAPTER 11
Stronger Company Well Positioned for Growth
CHARLOTTE, N.C. – June 11, 2010 – Crescent Resources announced today that on June 9, 2010, the company successfully completed its financial restructuring and emerged from Chapter 11. As a result, the Company now has a significantly improved capital structure, having eliminated over $1 billion of debt from its balance sheet through the restructuring process.
“Today is a very proud day for Crescent Resources,” said Andrew Hede, Chief Executive Officer and Chief Restructuring Officer of Crescent Resources. “In the last 12 months, we have significantly strengthened the financial position of the company, while continuing to operate effectively and successfully. With the restructuring behind us, we emerge a much stronger entity, well positioned for future growth and able to deliver the high level of service our customers have come to expect. I would like to emphasize our appreciation for our employees, partners, and all our stakeholders who have made this day possible thanks to their commitment and support throughout this process.”
Crescent Resources, LLC filed for protection under Chapter 11 of the U.S. Bankruptcy Court in the Western District of Texas, Austin Division on June 10, 2009. Crescent filed its plan of reorganization on January 29, 2010. Its plan of reorganization was confirmed by the Court on May 24, 2010.
About Crescent Resources
Crescent Resources, LLC, is a land management and real estate development company with interests in 10 states in the southeastern and southwestern United States. Based in Charlotte and established in 1969, Crescent Resources creates mixed-use developments, award-winning country club communities, single-family neighborhoods, apartment and condominium communities, Class A office space, business and industrial parks and shopping centers. Visit www.crescent-resources.com for more information.
Media Contacts
Chuck Burgess/Lex Suvanto
The Abernathy MacGregor Group
Ph: (212) 371-5999
Email: clb@abmac.com/lex@abmac.com
