The Federal Club files Chapter 11
The Federal Club, one of the Richmond area's premier golf clubs, has filed for Chapter 11 bankruptcy protection.
The club's centerpiece is a $9 million course designed by Arnold Palmer. The upscale housing development known as Mountain Run that surrounds the course is included in the protection request.
The course opened three years ago off Route 33 in Hanover County. The filing shows the list of assets to be less than $50,000 and liabilities between $1-10 million. The company, Mountain Run Golf Inc., owes $4.96 million to unsecured creditors. Many of the creditors are in Richmond. -- Arthur Utley
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The Democrats who created this mess will be the next to go - just wait until next Tuesday!
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