Devonshire PGA Holdings Wins Ch. 11 Plan Confirmation

Law360, Wilmington (December 2, 2013, 3:16 PM EST) -- A Delaware bankruptcy judge gave the nod Monday to a Chapter 11 plan for the owner of a retirement community and assisted-living facility within Florida's PGA National Resort and Spa, a plan that aims to see secured lender Erickson Living Properties LLC swap its debt for equity in a reorganized company.

U.S. Bankruptcy Judge Christopher S. Sontchi approved the plan for Devonshire PGA Holdings LLC — and its operating affiliates, Devonshire at PGA National, which runs the retirement community, and Chatsworth at PGA National, which runs...
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