Campground Owner Files for Ch. 11 Bankruptcy
The owner of the East Wareham, Mass., Maple Park Family Campground and nearby cranberry bogs filed for Chapter 11 bankruptcy protection this week.
Brock P. Tucy reported having assets of $18.1 million in real property and $90,000 in personal property, according to the Boston Business Journal.
The land includes 200 acres listed as “vacant” in East Wareham valued at $5 million and another 390 acres as “for RV resort” valued at $11.5 million.
The holders of the biggest unsecured claim listed by Tucy is Peter D. Angelo of Arlington, Mass., who reported having unsecured trade debt of $1.3 million and another $500,000 in debts secured by collateral. A number of smaller vendors and credit card companies are listed as holding smaller claims.
Tucy operated the campground as a Yogi Bear Jellystone Park Camp-Resort.
Creditors hold $6.9 million in secured claims, according to Tucy’s bankruptcy filing.
The biggest holders of secured claims are Digital Credit Union in Marlborough, Mass., which is owed $5 million, and the town of Wareham, Mass., which is owed $75,000.
Tucy is represented in the Chapter 11 proceedings by attorney Norman Novinsky of Brockton.