Colony must provide owner access

 

Colony must provide owner access

 

Date: January 8, 2010
by: Kurt Schultheis | City Editor

 
 

A federal bankruptcy judge ruled Thursday, Jan. 8 that The Colony Beach & Tennis Resort must give its unit owners access to their units if it’s open for business again as a hotel.

The resort’s hotel operating entity filed for Chapter 11 bankruptcy Oct. 5 in the Tampa-based U.S. Bankruptcy Court’s Middle District of Florida.

Colony Chairman and owner Dr. Murray “Murf” Klauber and Colony President and General Manager Katie Moulton are working to submit a bankruptcy reorganization plan to Judge K. Rodney May by the end of the month.

Klauber and Moulton reopened approximately 100 rooms at the hotel Dec. 18 and are working to find investors for the resort while going through the bankruptcy process.

Also at the hearing, the judge ruled that Moulton could receive half of her former salary while going through reorganization. The judge also ruled that the general partner must provide access to its financial accounting and make it available to its association.

Contact Kurt Schultheis at kschultheis@yourobserver.com.

 

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