Opposition Mounts To Barnes Bay Ch. 11 Plan

Law360, Wilmington (June 27, 2011, 8:43 PM EDT) -- Several  Barnes Bay Development Ltd. creditors rose in opposition Thursday to the Caribbean resort developer’s new Chapter 11 plan, saying it discriminates between similarly situated creditors and should be scrapped before even voting on it.

Most of the company’s unsecured creditors are individuals or organizations that put down deposits totaling $53 million on residences at the debtors’ Viceroy Anguilla resort, but many became disgruntled after the property’s opening was repeatedly delayed. Some sued on the Caribbean island of Anguilla, where the resort is located, or in...
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