Mesothelioma and Asbestos

American Housing Foundation (AHF) in Amarillo, Texas is looking to sell 13 acres to ExxonMobil for $7.5 million. The property contains 167 town houses that would need to be demolished. Combined with the debts owed on the property, AHF would only net $1.1 million after accounting for the costs of hazardous bodily abatement as well as debris removal. Asbestos abatement in the 20 buildings that make up Lakewood Terrace Townhomes alone could cost $1.4 million. ExxonMobil has agreed to advance AHF the money to total the demolition as well as other tasks, according to a request for bankruptcy court approval of the sale.

Because each townhouse is financed separately, there possess to be 167 disconnected closings after AHF acquires the three townhouses it doesn’t own. AHF must as well as acquire the titles to the streets, alleys, easements as well as rights of way.

American Housing Federation is trying to reorganize after its creditors tried to force it into involuntary bankruptcy after the April 1 suicide of its founder Steve Sterquell. AHF instead filed for voluntary bankruptcy in June.

For the filled story, go to Amarillo.com.