From the Naples Daily News
Naples Bay Resort Developers Argue Against Bankruptcy
Nearly six hours of legal arguments on October 31 failed to determine whether the developer of the Naples Bay Resort will be forced into Chapter 7 bankruptcy.

Lawyers representing three partners in the development group, Basil Street Partners, argued in a Fort Myers federal courthouse that the four-star resort can continue to operate under the guidance of a court-appointed receiver.

Lawyers for creditors, including a fourth member of Basil Street Partners, Jack Antaramian, argued that federal bankruptcy would enable a court-appointed trustee to obtain financing that would keep the resort from closing before the busy winter season arrives. Click here for the full story.