Barnes Bay Ch. 11 Trustee Fight Ends Abruptly

Law360, New York (May 13, 2011, 7:22 PM EDT) -- The official committee of unsecured creditors in Barnes Bay Development Inc.’s bankruptcy on Friday abruptly curtailed its court fight in Delaware to appoint a Chapter 11 trustee over the case after meeting resistance to its evidentiary presentation from the judge.

Barnes Bay filed for bankruptcy protection in March after labor strikes and a 2008 hurricane delayed the opening of its swanky Caribbean resort, the Viceroy Anguilla, and construction costs ballooned. The company’s plan to sell the resort to secured lender Starwood Capital Group is staunchly opposed...
To view the full article, register now.