Henry Management Still On the Hook for Plaza Towers

by Arkansas Business Staff  on Monday, Apr. 14, 2014 12:00 am  

Henry Management Inc. was removed from its management of the Plaza Towers in Little Rock after a fire broke out in a second-floor apartment. (Photo by Luke Jones)

Remember Plaza Towers Apartments, the blighted former property of Henry Management Inc.?

After fire and floods highlighted the squalid conditions of the complex in 2012, management passed to Ledic Management of Memphis, which changed the complex’s name to Midtown Park.

But according to a judgment filed last week in U.S District Court, Henry Management stills owes hundreds of thousands of dollars on the property.

PT Apartments Ltd., a subsidiary of Henry Management, bought the apartments for $4.1 million in 2005.

David Henry, who owned Henry Management, as well as his ex-wife, Madeline Henry, are named in the judgment, among several defunct Henry companies.

The court found the Henrys liable for a $500,000 capital contribution that former partners Amtax Holdings LLC and TCH II Pledge Pool, both of Colorado, made to rescue the apartments from default; attorney fees of $27,435; and $79,665 owed on a defaulted loan made by Paramount Financial Group and assigned to Amtax, for a total of $607,100.

Phone numbers listed for the Henrys have been disconnected.

 

 

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