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Colony appeals filed

Colony appeals filed

Unicorp argues that the Association Board plans to hold a meeting to “ram through a proposal” that is not legal.

September 27, 2015 | Posted in Major Headlines, Top Box | Read More »

Judge blesses Unit Owners’ offer; Klauber to be paid $350,000 cash

Judge blesses Unit Owners’ offer; Klauber to be paid $350,000 cash

The Association said it would wire $3.1 million immediately with a separate agreement to give Klauber the $350,000 in cash. The money for The Association was being funded by Andy Adams as a loan to be paid back by Unit Owners.

September 5, 2015 | Posted in Major Headlines, Real Estate, Top Box | Read More »

Judge denies unit owners as Colony asset sale looms

Judge denies unit owners as Colony asset sale looms

‘I may be sympathetic to Unit Owners but I’m not here to protect them. This is a business decision and I don’t see any evidence of bad faith by Unicorp and I believe they are a qualified buyer.’ — U.S. Bankruptcy Court Judge Rodney May

August 29, 2015 | Posted in Major Headlines, Top Box | Read More »

Court: Colony Lender can continue collecting, $23 million auction pending

Court: Colony Lender can continue collecting, $23 million auction pending

The judge also said he will soon schedule auction of $23 million judgement.

August 24, 2014 | Posted in Major Headlines, Top Box | Read More »

Colony sale on-hold by appeal, Ocean Properties makes proposal

Colony sale on-hold by appeal, Ocean Properties makes proposal

‘Colony Lender risks immediate and irreparable loss, measurable in millions of dollars if the assets at issue are sold at an auction at which Colony Lender is forbidden to exercise the statutory right to a credit bid.’

June 24, 2014 | Posted in Major Headlines, Top Box | Read More »

Judge stalls sale of Colony estate as two developers vie for assets

Judge stalls sale of Colony estate as two developers vie for assets

Judge May said, “It can always be a constantly moving circus. The circus can have bids all afternoon, but the gavel will seal the deal.”

June 2, 2014 | Posted in Major Headlines, Top Box | Read More »

Colony decision looms Monday

Colony decision looms Monday

Bankruptcy Judge Rodney May has said he will make his final ruling.

January 26, 2014 | Posted in Major Headlines, Top Box | Read More »

Colony Judge vows to rule in January

Colony Judge vows to rule in January

There were no high-fives, no fist bumps, congenial feelings, breaking of bread or grand slams in The Colony bankruptcy courtroom this week; only further delay and continuation as Judge Rodney May creeps closer to what appears to be a ruling that will likely be appealed.

December 9, 2013 | Posted in Major Headlines, Top Box | Read More »

Colony closing arguments loom

Colony closing arguments loom

Judge May said in court last week that while he does have concerns regarding the settlement plan, he believes there are “elements of a deal.”

December 1, 2013 | Posted in Major Headlines, Top Box | Read More »

Case for Colony settlement challenged in Federal Court

Case for Colony settlement challenged in Federal Court

Part of the Association’s global settlement that they are asking Judge May to approve is the ‘cramming down’ of the $15 million owed to Colony Lender and conveyance of their collateral to the group of owners.

November 25, 2013 | Posted in Major Headlines, Top Box | Read More »