Memory Gardens Mausoleum Bankruptcy

After repeated financial problems, the Cullman Memory Gardens has once more been closed by the State of Alabama. In 2008, the mausoleum had been taken into receivership due to alleged mismanagement by the previous owner – Mike Graham and Associates. The property facilities have continued to deteriorate due to the failure to provide proper maintenance. Families complained of a foul liquid smell emanating from the tombs of the mausoleum. Bankruptcy trustees have been placed in charge of Cullman Memory Gardens.

DeArbor, LLC agreed to purchase the business from the State of Alabama for the exchange of regular payments for trusting. The primary financial benefit of owning the mausoleum has been the ability to sell “pre-need contracts” to those who need burial services. Unfortunately, DeArbor, LLC failed to honor its $8,726 deposit in January 2013. The State of Alabama has seized the property and suspended DeArbor’s certificate of authority. Ownership has become a point of contention as lawsuits begin to pile up. Unfortunately, World Business Lenders, the State of Wisconsin, and the State of Alabama have discovered that many DeArbor sites are suffering from the same mismanagement problems.

Source: http://insurancenewsnet.com/oarticle/2014/07/02/with-mausoleum-closed-bankruptcy-trustee-put-in-charge-of-memory-gardens-a-525626.html