Colony conference deemed 'productive'

 

Colony conference deemed 'productive'

 

Date: July 29, 2010
by: Kurt Schultheis | City Editor

 
 

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 kschultheis@yourobserver.com.
 

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Currently 2 Responses

  • 1.
  • I feel badly for the condo owners in this situation. They are getting shafted.
  •  
  • fae beloff
    Thu 29th Jul 2010
    at 4:17pm
  • 2.
  • 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.
  •  
  • George McFarland
    Thu 29th Jul 2010
    at 3:59pm
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