Creditors Want Barnes Bay Ch. 11 Case Tossed

Law360, New York (September 23, 2011, 7:03 PM EDT) -- Creditors of Barnes Bay Development Ltd. asked a Delaware bankruptcy court Thursday to dismiss the company's Chapter 11 case so they can pursue their interests against the troubled Caribbean developer in Anguilla.

U.S. Bankruptcy Judge Peter J. Walsh on Tuesday had rejected Anguilla-based Barnes Bay's original reorganization plan, sponsored by secured lender Starwood Capital Group, due to its unequal treatment of similar creditors. Barnes Bay said it would file a modified plan Wednesday, but has thus far failed to do so, according to a motion filed...
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