Scrub Island, creditors head to mediation
The owners of the bankrupt Scrub Island Resort and its creditors will soon head to mediation in an attempt to settle concerns about the resort’s restructuring plan.
The mediation, which United States Bankruptcy Judge Michael Williamson ordered on April 11, is scheduled to take place Tuesday in Tampa, Florida.
Present at the bargaining table will be representatives of the resort’s owners and FirstBank Puerto Rico, as well as members of a committee formed to represent creditors in the resort’s bankruptcy whose claims aren’t secured by collateral.
Since Nov. 1, the resort has been mired in a cross-border legal dispute being waged simultaneously in a Tampa-based bankruptcy court as well as the Virgin Islands Commercial Court.
See the April 24, 2014 edition for full coverage.
{fcomment}