Anguilla Resort Creditors Ask For Ch. 11 Trustee

Law360, New York (April 13, 2011, 7:41 PM EDT) -- Creditors of Barnes Bay Development Ltd. asked a Delaware bankruptcy judge Wednesday to appoint a Chapter 11 trustee to prevent the debtor from rushing the sale of its Anguilla resort to Starwood Capital Group and escaping liability.

The official committee of unsecured creditors urged Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware to put a trustee in charge of a reorganization that allegedly served to enrich Starwood and release embattled resort owner Bradford Korzen from hundreds of millions of dollars...
To view the full article, register now.