HarborView Towers Council of Unit Owners, which maintains and operates 30-story luxury condominium tower in Baltimore, has filed for bankruptcy.
“With contested litigation filed by a condominium owner over the course of several years, Chapter 11 protection will enable The HarborView Towers and the Council to continue to conduct its business operations while it develops a plan addressing the interests of all creditors and owners going forward,” Reuben Mezrich, board president of the council said in a news release. “This was a necessary decision as a result of judgments entered against the Council and subsequent garnishments that froze our banking and management accounts and prevented us from providing necessary services to our constituents.”
A $7.8 million in repairs and improvements to the building, which was Baltimore’s first waterfront luxury condominium, were recently completed.
The council has been involved in lawsuits with an owner who claims the council was slow in making repairs to the building that resulted in a 27th-floor condominium being fouled by an airborne mold.