Barnes Bay Ch. 11 Disclosure Sent Back For Revisions

Law360, Wilmington (June 30, 2011, 4:28 PM EDT) -- Disgruntled creditors on Thursday forced Barnes Bay Development Ltd., the bankrupt owner of a Caribbean resort, to overhaul the disclosure statement explaining its Chapter 11 plan, raising questions over disparate treatment of similar unsecured creditors.

U.S. Bankruptcy Judge Peter J. Walsh directed the resort’s attorneys to make additional disclosures about the plan before sending it to creditors for a vote. Much of the additional information related to the partitioning of certain unsecured creditors — who put a total of $53 million in deposits down on residences...
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