Port Ludlow: No harm to community from bankruptcy court filing, executives tell Village Council

PORT LUDLOW — Executives from a Port Ludlow Associates parent company that filed for reorganization in bankruptcy court in February assured residents Thursday that the action won’t harm their community.

San Francisco-based HCV Pacific Partners LLC President Randall J. Verrue and Chief Financial Officer Troy Crosby attended Thursday’s Port Ludlow Village Council meeting at the Beach Club.

Verrue said he wanted to allay fears that residents have expressed over HCV’s filing for Chapter 11 protection under federal bankruptcy laws.

“Port Ludlow Associates is a completely separate entity,” Verrue stressed.

HCV, through a company called Olympic Pacific Partners, owns only 1 percent of Port Ludlow Associates, he said.

Because of that fraction, residents should breathe easy that the company can uphold its commitments to Port Ludlow, Verrue said.

More in News

Sailboats engage in racing during the weekly Friday evening event on Port Townsend Bay. (Steve Mullensky/for Peninsula Daily News)
Sailboat racing

Sailboats engage in racing during the weekly Friday evening event on Port… Continue reading

Vaccine appointments available for youngest age group

Rise in cases attributed to graduation parties

Clallam County to review noise ordinance

Current law reflects one of four parameters

Discovery Bay closed to shellfish harvesting due to biotoxins

Sequim Bay also shut down to all species

Housing village has two options

Pathways include public facility or purpose

Joe Kennedy, a former assistant football coach at Bremerton High School, poses for a photo March 9, 2022, at the school’s football field. The Supreme Court has sided with a football coach who sought to kneel and pray on the field after games. The court ruled 6-3 along ideological lines, saying the coach’s prayer was protected by the First Amendment. (Ted S. Warren/The Associated Press)
Supreme Court sides with Bremerton coach who sought to pray after game

The U.S. Supreme Court sided Monday with a Bremerton High… Continue reading

Voters invited to submit questions for Secretary of State forum

The League of Women Voters of Washington Education Fund is… Continue reading

Volunteer Hospice of Clallam County to hold volunteer orientation sessions

Volunteer Hospice of Clallam County will conduct both an… Continue reading

Community Build to host “Under the Tent: Housing Conversations with Our Community”

Community Build will host “Under the Tent: Housing Conversations… Continue reading

Most Read