US Trustee Objects to Developer Oceanside's Ch. 11 Plan

Law360, New York (September 9, 2013, 5:58 PM EDT) -- The U.S. Trustee's Office in Honolulu on Friday objected to a Chapter 11 reorganization plan filed by a luxury developer, saying the plan failed to describe how it would pay the company’s unsecured creditors.

Hawaii-based 1250 Oceanside Partners and two of its affiliates, Pacific Star Company and Front Nine LLC, filed a joint consolidation plan of reorganization in U.S. Bankruptcy Court for the District of Hawaii in August to exit bankruptcy under SunChase Holdings Inc., a privately held real estate development and investment company.

Oceanside’s principal...
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