"Counsel for Save Casa, the Debtor, and the Buyer have had discussions regarding the Motion and the arguments set forth in the pleadings. After fully assessing the parties’ positions and facts of this case, and upon the agreement of the parties, Save Casa hereby withdraws the Objection to the Motion. Pursuant to an agreement of the parties, the Buyer and the Debtor do not object to this Withdrawal," reads a November 2 notice filed in the U.S. Bankruptcy Court for the District of Colorado.
The withdrawal of that objection clears the path toward the closure of the deal that would transfer ownership of Casa Bonita from Summit Family Restaurants, which filed for Chapter 11 bankruptcy in April of this year, to Trey Parker and Matt Stone, the Coloradans who created the hit Comedy Central series South Park. The restaurant, a favorite of Colorado families for decades, became known internationally largely because of a 2003 South Park episode named after the 52,000-square-foot restaurant at 6715 West Colfax Avenue in Lakewood.
Andrew Novick, head of Save Casa Bonita, declined to comment on the move. Westword has reached out to lawyers for Summit Family Restaurants; the property's landlord, BSV Lamont JCRS; and Parker and Stone, but has not received any response.
Judge Michael E. Romero of the U.S. Bankruptcy Court still needs to sign off on the deal, which was struck in September. Assuming he does, the two South Park creators will buy the restaurant from Summit Family Restaurants for $3.1 million; the money will be used to cover existing debts and claims that Summit needs to pay off, including $900,000 to BSV Lamont JCRS. At the same time, Parker and Stone are buying the intellectual property for Casa Bonita, potentially worth millions of dollars, in a separate deal that's outside the jurisdiction of the bankruptcy court.
Save Casa Bonita had filed its objection to the sale on October 18, saying that an investor the group was working with was ready to purchase the restaurant for $3.5 million, which would be $400,000 more than what the South Park creators were offering. "A key pillar of Chapter 11 is to maximize value of assets for the benefit of creditors and other parties in interest," its motion reads.
The motion also blamed BSV Lamont JCRS for strong-arming Summit Family Restaurants into deciding not to sell to Save Casa Bonita over the summer, even as its offer was taking shape. Save Casa Bonita was also willing to pay millions of dollars for the restaurant's intellectual property, according to Novick. But that is moot now, since Save Casa Bonita has withdrawn its objection.
Casa Bonita shut down because of the COVID-19 pandemic in March 2020 and has yet to reopen its dining room, though it has been offering tours. Following attempts by BSV Lamont JCRS to evict Casa Bonita, Summit Family Restaurants filed for bankruptcy in April 2021.
In August, Governor Jared Polis hosted a sit-down with Parker and Stone to celebrate the 24th anniversary of South Park. During that conversation, the two creators broke the news that they planned to buy Casa Bonita.
"I think everyone knows what the potential of that place can be, and we certainly do," Parker said. "I think it's going to be awesome."