Jews will gather Friday evening at a South Florida synagogue that’s in bankruptcy for the start of Yom Kippur, or Day of Atonement, but they’ll also have something to kvetch about. Congregation Chabad-Lubavitch of Greater Boynton Beach Inc.’s lender is seeking to seize some of its property and assets, including five Torahs.
Bank Seeks Synagogue’s Torahs to Pay Loan
Jews will gather Friday evening at a South Florida synagogue that’s in bankruptcy for the start of Yom Kippur, or Day of Atonement, but they’ll also have something to kvetch about. Congregation Chabad-Lubavitch of Greater Boynton Beach Inc.’s lender is seeking to seize some of its property and assets, including five Torahs.
Stonegate Bank is seeking the assets to help pay off a delinquent loan. According to the Palm Beach Post, the synagogue’s attorneys are upset about the bank’s timing because Chapter 11 bankruptcies usually halt litigation. Howard Dubosar, a lawyer for Congregation Chabad-Lubavitch, said the threat to take their Torahs is a “desecration” and that the bank is “playing hardball.”
But Stonegate filed a relief from stay motion earlier this month in the West Palm Beach bankruptcy court, arguing that it should get the property because “the bank is not receiving adequate protection payments and there is no reasonable possibility of a successful reorganization.” The bank says that Congregation Chabad-Lubavitch now owes more than $4.5 million plus attorneys’ fees. (It originally borrowed $3.8 million in October 2007 but failed to make required payments and interest due last October, as well as all subsequent payments.)
“As it is abundantly clear,” the bank said in documents filed earlier this month, “the filing of this bankruptcy proceeding and utilization of the automatic stay has been in bad faith simply to stall for more time.”
David Selenski, the bank’s president, told the Post that the bank isn’t trying to attack the synagogue’s religion. “We just want to get paid,” he said.
A hearing on the bank’s motion is set for next Friday, which also happens to be the Sukkot, a Jewish holiday that celebrates the harvest.
Need to be a Keili
This is what happens when you have kids being brought up with ‘Don’t worry, Hashem will provide!” this is a huge chilul hashem and shluchim need to have fiscal responsibility. I happen to also be on shlichus and I run my own moisod.
go-ds right hand man
the chilull hashem of financial wrangling must come to an end
finally
#1 and #2 Finally words of truth and wisdom!
Exactly right
“This is what happens when you have kids being brought up with ‘Don’t worry, Hashem will provide!”
Agree 100%
Meir
In every dispute there are two sides.
Why CrownHeights.info opted for the bank’s version of this dispute is a bit puzzling.
A clearer picture of the saga in Boynton Beach could have been found in The Wall Street Journal, Bloomberg Financial News and The Miami Herald who all reported on behalf of Chabad’s version of the lawsuit(s).
Perhaps the readership of CrownHeights.info would like to avail themselves of all the facts. Here are the links;
http://www.bloomberg.com/ne…
http://usspost.com/florida-…
http://m.pbpost.com/pbpost/…
http://pd.miami.com/sp?skin…
The aspersions cast on Shluchim by the two comments listed, without before knowing all the facts, is sad.
On the day of Beshem Hashem, perhaps they and Crownheights.info should reclaim the glory of Chabad in this matter, alike the major news agencies, and thus promulgate Chabad’s interests via the powerful internet.
...
I’m waiting to hear someone blurt out….“antisemitic….blah…blah…blah”
A disappointed chasid
Who are you to talk even so called Shluchim The Rebbe encouraged shluchim to go into debt for Hafatza The question is what is really going on.Did you look @ his books?are you there with him? What are you willing to do to help him??Until you are in his shoes don’t criticize If you’re not willing to assist him in any way shut your mouth!!!The Rebbe watches over his Shluchim.If he is doing his shlichus the right wayAs the Rebbe wants & instructed the Rebbe will help.If not he should make corrections do what the Rebbe wants & everything will be ok
Put Your Money Where Your Comments Are
Either write something positive, send them some money, or keep your comments to yourself.
sam
you gues are a bunch of morons. did u ever take a loan “knowing” that u can pay it back then your reality and financial situation changes and now you cant pay it back. REALLY, you guys need to get a life.
Bank is Stupid
The torah’s are never the property of any shul it is only on loan the people who wrote the torah’s are the legal owners and the bank is stupid to make such big deal from that .
and even on a sale what can a used torah bring to the bank 10,000 not even .
mg
To commenters one to five:
Click on the following link and read the other side of the story before you judge anther shliach or anyone for that matter:
http://www.bloomberg.com/ne…
Gedaliah
Keep raising your children to believe Hashem will provide. Who
else is going to provide? After all the prayers of Rosh Hashanah
and Yom Kippur where we ask for life and all our needs, someone
can question the fact that everything is from Hashem!!! What were
you doing on those days? Or any other day for that matter. And others agree with #1, Rachmanah L’tzlan. If someone knows who these people are you must do what you can to help their children if they have children. Don’t worry, Hashem will provide, is exactly right. No one need worry, children or adults. The Tzemach Tzedek says that one who worries about parnasah, food, clothing, etc., will continue to worry about them AFTER they leave this world. Just like it doesn’t help to worry about it AFTER you leave this world, so too, it doesn’t help to worry in this world. Of course you need to TRAIN yourself, children, mekureviim, etc. By the way, I know a great trainer.
A concerned fellow Lubavitcher
A Chabad Moisad is in danger of losing their shul and their property and everything else — donors’ money has dried up. Can you help? Or can we lecture on fiscal responsibility? Are we Chassidim, or liberal lefties who are busy telling everyone how they live their lives wrong? How could one talk like some of the above comments when they see their brother, fellow Shaliach, Chabad mosad drowning? Let’s try and help instead!! Do we want them to lose all their property, and hard work (and lecture them on how to watch their money better?
A Fan of Shluchim
Criticizing Shluchim is easy. Shluchim have built the largest jEWISH OUTREACH PROGRAM IN hiSTORY. WITH OVER 4000 SHLUCHIM FAMILIES, THE SUCCESS RECORD IS UNBELIEVABLE. THE FACT IS THAT FLORIDA IS SUFFERING GREATLY FROM THE ECONOMY. DONATIONS ARE DOWN BY 50% AND SCHOOLS ARE READY TO FORCLOSE.
RABBI CEMENT IS AN INCREDIBLE GREAT MAN WHO HAS A CHALLENGE AS A RESULT OF THE ECONOMY AND SOME OTHER DIFFICULT LOCAL COMMUNITY ISSUES. HE SHOULD BE HELPED INSTEAD OF CRITICIZED.
I STAND FOR RABBI CEMENT AND SO SHOULD EVERY CHABAD CHASSID.
estie
Hey readers, couch warmers, hyper-critics, key-board-tapping warriors:
Send the guy who is out there in the trenches a check. He is a brother, no? He is a shliach, no? A bank is threatening to take away his chabad house, no?
YOU want to NOW teach him about fiscal responsibility and whether he overspent, underbudgeted? Did you ask him how and why he got to this position before ASSUMING you would have done better and differently?
Nah. Say tehillim and wring your hands about some rising hemlines or shortened beards. Let the over-believing soldier get taken prisoner.
The transparency of some self-worshipping folks is nauseating.
But, if you do not think you are part of that flock, if each one of the ten thousand silent majority readers sent him a check equivalent to ONE meal, he might have a better yom tov and his community a better future.
Just sayin.
sam
Guys relax!
The Chabbad Mossad never had money, it was all the banks. Bankruptcy is a good thing it protects the Shliach from becoming homeless.