Sea Island Bankruptcy Plan Wins Court Approval

Law360, New York (November 4, 2010, 6:46 PM EDT) -- A bankruptcy judge has signed off on Sea Island Co.'s plan to sell its luxury resorts, golf courses and private clubs to a coalition of companies that includes Starwood Capital Group LP for $212 million.

Judge John S. Dalis of the U.S. Bankruptcy Court for the Southern District of Georgia confirmed the Georgia-based company’s amended and restated joint Chapter 11 plan at a hearing Thursday, the company said.

Going into the hearing, the plan had the support of Sea Island's senior secured lenders and official committee...
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