Judge Nixes Barnes Bay's Ch. 11 Case

Law360, Wilmington (November 17, 2011, 7:30 PM EST) -- Two months after the Caribbean resort developer’s liquidation plan was torpedoed by disgruntled creditors, a Delaware bankruptcy judge agreed to dismiss Barnes Bay Development Ltd.'s Chapter 11 case Thursday, potentially denying over $4 million in fees to estate professionals in the process.

U.S. Bankruptcy Judge Peter J. Walsh said at a hearing that he would sign off on the U.S. trustee’s motion to dismiss the case, which faced no opposition. All sides agreed the estate was administratively insolvent and had no hope of pursuing another plan,...
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