Colony Beach & Tennis Resort President and General Manager Katie Moulton called a settlement conference in Sarasota “very productive” Thursday.
U.S. bankruptcy trustee William Maloney oversaw a settlement conference Wednesday that began at noon at the attorney’s office of M. Lewis Hall III in Sarasota and continued into the evening.
Maloney is in charge of all of the resort’s operations and is hoping to approve a settlement reached by all parties that he can present to Tampa-based bankruptcy Judge K. Rodney May at a hearing scheduled for Monday, Aug. 9.
Present at the conference were Moulton and Colony owner and chairman Dr. Murray “Murf” Klauber; Colony Lender LLC representatives David Siegal and Randy Langley; association president Jay Yablon and some other board members; and Carolyn Field and William Merill.
All parties Wednesday agreed to a confidentiality agreement that doesn’t allow them to discuss the settlement negotiations.
But Moulton said some progress was made Wednesday.
“The trustee is having us return to our prospective corners and take another look at our proposals based on the feedback he provided us at the conference,” Moulton said. “We will resubmit to him what we all come up with and hopefully have a final settlement plan in the next two to three weeks.”
Siegal declined to comment on Wednesday’s conference, citing the confidentiality agreement. Yablon could not be reached for comment due to traveling.
Contact Kurt Schultheis at email@example.com.
Currently 2 Responses
- I feel badly for the condo owners in this situation. They are getting shafted.
- My bet is the Colony will close after the 1st week of August. The Association will get full control of the Hotel Partnership and Langley and Siegal will be left out in the cold with Real Estate tax arrears, bed and sales tax that come before them in a foreclosure. As for the Klauber's, gonezo.
8 Sarasota Music Half Marathon
7:00 am - 6:00 am
12 Longboat Key Chamber of Commerce Networking Luncheon
11:30 am - 1:30 pm
14 New Exhibit "Oh Baby" Life Cycles of the Seas
10:00 am - 5:00 pm
17 Hospitabull Evening 'A Taste of Israel'
Gauls celebrate sweet 60
On Jan. 29, Jack and Joan Gaul will celebrate their 60th anniversary.
Dora Walters goes by the book for readers
You saw her byline countless times during her 26 years at the Longboat Observer, but now, retired Senior Editor Dora Walters’ byline appears on her new book, “Rewind…Playback: A Collection of Life’s ‘Little’ Memories.”
Encore opening celebration
Members of the Longboat Key Chamber of Commerce gathered for a ribbon-cutting event Jan. 20, at Amore by Andrea.