Cassa Hotel Developer's Ch. 11 Plan OK'd After Deal

Law360, New York (July 22, 2011, 5:54 PM EDT) -- The developer behind New York's Cassa NY Hotel is on track to emerge from its brief stint in Chapter 11 following the approval of its reorganization plan Friday, three days after negotiating a way to resolve disputes with the hotel's builders.

U.S. Bankruptcy Judge Stuart Bernstein confirmed Waterscape Resort LLC's reorganization plan, which calls for repaying much of the company's debt with proceeds from the $128 million sale of the hotel section of the development. Remaining debt would be refinanced and covered by revenue from condominium...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Waterscape Resort LLC


Case Number

1:11-bk-11593

Court

New York Southern

Nature of Suit

Date Filed

April 5, 2011

Law Firms

Companies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.