The The Colony Beach & Tennis Resort Association is urging a bankruptcy judge to enforce an agreement a trustee is no longer willing to bring forward for review.
The Colony Beach & Tennis Resort Association filed an emergency motion late Monday afternoon that urges U.S. Bankruptcy Judge K. Rodney May to enforce a $600,000 settlement agreement it reached with U.S. Trustee Douglas Menchise for a recreational lease judgment of $2.5 million.
Menchise was bringing forward a $600,000 settlement he reached with the Colony Beach & Tennis Resort Association to May 10 a.m. Aug. 28.
But the settlement offer won’t be presented to May as planned because Menchise filed a motion last week to withdraw the offer. Menchise noted in his Aug. 6 motion to rescind the agreement expired and contained a mutual mistake of fact.
Unicorp President Chuck Whittall announced Aug. 7 he's reached an approximately $1.4 million cash settlement agreement with Menchise that acquires the rec lease judgment and provides more cash for Menchise to settle claims. The settlement also releases the liability of all claims involved with the rec lease estate.
May will review the settlement Unicorp has reached with Menchise 10 a.m. Aug. 28.
Contact Kurt Schultheis at [email protected].