The owners of Mahoning Valley Country Club, located in Lehighton, Pa., filed Chapter 11 bankruptcy earlier this month, staving off a scheduled sheriff’s sale of the 82-year-old Carbon County golf institution.
The new bankruptcy petition was filed in U.S. Bankruptcy Court less than 15 minutes before the club was to be offered to bidders for the $3.5 million owed on its mortgage and taxes. Carbon County President Judge Roger N. Nanovic then, according to The Morning Call, postponed the sale a month.
It’s the third time in less than two months that the club’s owners, A&A Associates who purchased the club in 2005 for $3.55 million, have filed a bankruptcy petition.
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