Three investors in the Fox Den Country Club development in Statesville, North Carolina are filing for Chapter 7 bankruptcy against Fox Den Development Co. and Fox Den Country Club over unpaid debts. Taken together, Phyllis Edmonston and the estates of the late Nancy Burke and the late Udean Burke seek $4.5 million from the company.
Fox Den began development in the late 1990s, and 100 lots were sold on the property before 2008’s Great Recession halted sales. Fox Den’s accompanying golf course and undeveloped property were sold in a foreclosure auction in 2013.
Fox Den Development Co. has been taken to court in the past by the children of the late Dwight Goforth, whose $1 million loan to the company in 2003 was never repaid. The case, which placed 18 Fox Den homeowners in danger of foreclosure, halted its proceedings in 2014.