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  • Colony Lender most likely will get the foreclosure stay lifted in Bankruptcy Court so that the foreclosure on Klauber's assets can continue, wiping out any potential judgement that Klauber might receive from the Colony Association as there will most likely be a deficiency judgement issued against Klauber when all the dust settles. Colony Lender will then step into the shoes of the Klauber judgement which will then be appealed by the Colony Association of homeowners. Further litigation will then issue and the Colony property will still remain fallow unless the Town of Longboat Key acts to discontinue the grandfathered use of 237 units which would help to get Colony Lender to relinquish some of that pot of gold at the end of the rainbow.
  • Lee Pokoik
    Thu 5th Sep 2013
    at 8:02am
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