Judge Tables Ch. 11 Exit For Cassa Hotel Developers

Law360, New York (July 13, 2011, 4:51 PM EDT) -- The developers of New York's new Cassa NY Hotel fell short of winning approval Wednesday from a New York bankruptcy judge for a plan to emerge from a brief stint in Chapter 11 protection as they struggled to work out disputes with contractors.

Judge Stuart M. Bernstein said that he would adjourn a confirmation hearing on the reorganization plan to allow for debtor Waterscape Resort LLC to further negotiate over its proposal to refinance existing debt while allowing contractors to continue to litigate. The hearing will...
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