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Specializing in insolvency and complex commercial matters since 1974

Sanibel Sundial Beach Resort & Spa Sold In Section 363 Sale In Chapter 11 - December 3, 2013

On September 26, 2013, Sanibel Sundial Partners, LLC d/b/a Sundial Beach & Golf Resort filed its petition for reorganization under Chapter 11 before the Honorable Caryl E. Delano of the United States Bankruptcy Court for the Middle District of Florida, Ft. Myers Division. On the petition date, the Debtor operated a condo-tel resort containing a 38,000 square foot central facilities building, lobby, reception area, multiple food and beverage outlets, meeting room, spa and fitness center, main pool and pool bar, tennis courts and parking – all located on 2,000 feet of private beach. It is the largest and only full service resort on Sanibel Island in Southwest Florida.  http://www.sundialresort.com/

 Stichter Riedel successfully obtained court approval of a post-petition debtor in possession lending facility in October, 2013 following multiple emergency hearings. On November 18, 2013, Stichter Riedel filed a motion seeking to sell substantially all of the Debtors assets to RLR Investments, LLC as a stalking horse bidder. Subsequently, on December 3, 2013, the Debtor successfully consummated the sale of substantially all assets of the estate to RLR as approved by the Court. Read more here in Hotel Management:  http://tinyurl.com/sanibelsundial

The firm’s representation of the Debtor was led by Stephen R. Leslie and Daniel Fogarty, with Michael Bachman closing the sale.