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Specializing in insolvency and complex commercial matters since 1974

Naples Bay Resort - Interim Working Capital Resolution Achieved For Naples Bay Resort - November 2, 2011

On November 2, 2011, the United States Bankruptcy Court for the Middle District of Florida, Ft. Myers Division, entered an order memorializing the results of two days of evidentiary hearings involving the firm’s representation of the Chapter 7 trustee in the Naples Bay Resort bankruptcy case. Because of the absence of sufficient working capital and a virtual deadlock between ownership groups, four petitioning creditors sought involuntary relief against Naples Bay Resort in Bankruptcy Court. The firm was engaged by the Chapter 7 trustee to quickly evaluate the situation and prosecute emergency financing under Section 364 of the Code. After two days in trial, an interim global resolution was reached and funding for the project was achieved. The project employs between 100 to 150 people in Collier County, Florida. The firm’s representation was led by Stephen R. Leslie and Daniel Fogarty.