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Specializing in insolvency and complex commercial matters since 1974

Debtors' Confirm Joint Plan Of Reorganization In Case Involving A Construction Company, An Architectural Firm, A Marina, And Real Estate-July 8, 2011

On July 8, 2011, the United States Bankruptcy Court for the Middle District of Florida, Tampa Division confirmed the Joint Chapter 11 Plan of Reorganization in the jointly administered Chapter 11 cases of Mike Carter Construction, Inc., R.D. Marina, LLC, Production Properties and the five other Debtors. The Debtors formed an integrated enterprise engaged in the business of owning and operating commercial properties, including office buildings, a construction company, an architectural firm, and a marina located in Bradenton, Florida. The confirmed Chapter 11 Plan approves a settlement of approximately $25,000,000 in debt with Southern Commerce Bank. These cases presented a myriad of challenging issues, including addressing numerous loans with the secured lender, resolving disputes with a marina association and dealing with properties located in Costa Rica. Richard Prosser, Edward Peterson, and Elena Ketchum handled this representation.