Dallas Logistics Hub exits bankruptcy after nearly two years

Dallas, TX - The owner of the Dallas Logistics Hub, a real estate development in Dallas County, said Monday that the project has exited bankruptcy after nearly two years.

DLH Master Land Holding LLC, which owns the development, emerged from the case with 4,300 acres of land after returning 1,380 acres to creditors. The company said its reorganization plan became effective Dec. 15.

"The reorganization of DLH puts the company in a position to be extremely competitive and have the resources to attract Fortune 500 companies to our development," said Dan McAuliffe, president of DLH.

"It also enables the company to repay its creditors 100 percent of the debt over the next 7-8 years while having the necessary capital to operate," he said.

DLH filed for Chapter 11 bankruptcy protection in January 2010, saying the severe recession had stalled its ambitious plans to boost the area’s profile as a transportation and warehousing center.

The Dallas Logistics Hub is a key piece of a broader inland port project, which local leaders have billed as a promising economic development engine for southern Dallas County.

The inland port is designed to handle rising global trade, receiving trainloads of containers from California ports and distributing them to customers nationwide.

Source: Dallas Morning News