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UNITED STATES BANKRUPTCY COURT 

SOUTHERN DISTRICT OF FLORIDA 

www.flsb.uscourts.gov

In re: Case No. 21-12227-SMG

Chapter 11 THE PALMS NL CONDOMINIUM

ASSOCIATION, INC.

Debtor /

CHAPTER 11 CASE MANAGEMENT SUMMARY

In compliance with Local Rule 2081-1(B), the Debtor-in-Possession The Palms NL 

Condominium Association, Inc. files this Chapter 11 Case Management Summary and states:

The following data represents approximations for background information only and the 

information may represent the Debtor's best estimate in response to some of the ensuing questions.

1. Date of Order for Relief under chapter 11 (filing date of petition if voluntary chapter

11 petition): March 8, 2021

2. Names, case numbers and dates of filing of related debtors: N/A

3. Description of debtor's business: The Debtor is a Florida condominium association 

which is governed by Fla. Stat. § 718, et. seq. 3. The Debtor manages the common elements and 

operations of the The Palms NL Condominium, which is a residential building located in North 

Lauderdale, Florida. The Condominium is comprised of 30 privately owned units.

4. Locations of debtor’s operations and whether the business premises are leased or 

owned: The Debtor address is 700-728 SW 81st Avenue #15B, North Lauderdale, FL 33068. The 

premises are owned. 

5. Reasons for filing chapter 11: The Debtor has been beset for financial problems for 

years. The Debtor consistently failed to budget and/or collect sufficient assessment revenue to pay 

necessary expenses. As a result, the Condominium fell into disrepair. In 2019, the City of North 

Lauderdale imposed a Code Enforcement Lien on the building. That fine has continued to accrue. In 

addition, due to insufficient revenues and a deteriorating building, the Debtor failed to maintain 

insurance on the Condominium. A 2019 water intrusion into the building rendered many of the units 

unhabitable which were not covered by insurance. At least three lawsuits were subsequently filed by 

unit owners against the Debtor seeking, among other things, compensation for lost rents and property 

damage. It is likely that more unit owners have similar claims. The litigation costs and damages 

exposure forced the Debtor to seek bankruptcy relief.

6. List of officers and directors, if applicable, and their salaries and benefits at the time 

of filing and during the 1 year prior to filing: Alan Aronson, Haim Deletis and Shanir Kol have been 

board members during the last year. 

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7. Debtor's fiscal or calendar year to date gross income and the debtor's gross income for 

the calendar or fiscal year prior to the filing of this petition: $86,805.44

8. Amounts owed to various creditors: Approx. $100,000 in general unsecured claims,

not including unliquidated and unknown claims of multiple unit owners for property damage. 

a. Obligations owed to priority creditors including priority tax obligations: $0.00

b. With respect to creditors holding secured claims, the name of and amounts owed 

to such creditors and a description and estimated value of all collateral of the debtor 

securing their claims: One secured creditor in the City of North Lauderdale. They have an 

approximately $36,500 municipal lien on the common elements of the condominium. Value 

is unknown. 

c. Amount of unsecured claims: Approx. $100,000 in general unsecured claims, not 

including unliquidated and unknown claims of multiple unit owners for property damage and 

refunds of security deposits. 

9. General description and approximate value of the debtor's assets: $47,812.61 in cash 

and receivables. Receivable amounts are book values. 

10. List of all insurance policies, the property covered under the policy, the name of the 

insurer, the policy number, amount of coverage, whether the premium is current, the date the next 

premium is due and date the policy expires: See attached policy documents. 

11. Number of employees and amounts of wages owed as of petition date: None

12. Status of debtor's payroll and sales tax obligations, if applicable. N/A

13. Anticipated emergency relief to be requested within 14 days from the petition date:

(a) Application to employ counsel; (b) Application to employ CRO. 

/s/ Leigh Hoffman

Leigh Hoffman, proposed Chief Restructuring Officer 

for the Debtor

E-Signed with Consent

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Hoffman, Larin & Agnetti, P.A.

Proposed counsel for the Debtor

909 North Miami Beach Blvd., Suite 201

North Miami, FL 33162

Tel: (305) 653-5555

Fax: (305) 940-0090

Email: mshoffman@hlalaw.com

/s/ Michael S. Hoffman

Michael S. Hoffman

Florida Bar No.: 41164

Attach or file separately a Local Rule 2002-1(F) certificate of service reflecting manner and date of 

service on all affected parties.

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