In re Golf Club at Bridgewater LLC
May
21
2012
Ruling
Debtor ordered to comply with plan providing for auction preserving bank's credit bid rights.
Procedural posture
Debtor L.L.C. filed a petition under chapter 11 of the Bankruptcy Code, and the court confirmed a bankruptcy plan the debtor proposed which allowed it to market a golf course it owned for a period of 15 months but required it to sell the golf course at a sealed bid auction if the course was not sold within 15 months. A bank filed a motion to compel the debtor to comply with the terms of its plan.
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Court
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