By Rick Archer (Oct. 8, 2021, 7:25 p.m. EDT) – A capital owner at a luxury New Mexico resort on Friday asked a Delaware bankruptcy judge to stop a proposed “sham” bankruptcy sale of the property, claiming the businesses Inappropriately declines a superior offer for the assets.
In his appeal, Richard Holland and its affiliates alleged that other owners of BL Santa Fe LLC are pushing for a restructuring agreement that will strip shareholders and a non-compliant Chapter 11 plan.
“The plan is designed to allow the mezzanine lender to purchase the property without marketing or competition,” he said. “In fact, the debtors filed these cases …
Stay ahead of the curve
In the legal profession, information is the key to success. You need to know what is happening to customers, competitors, practice areas and industries. Law360 offers the intelligence you need to stay an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, type of lawsuit, etc.)
Access to attached documents such as Briefs, petitions, complaints, decisions, motions, etc.
Create custom notifications for specific article and case topics and much more!