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Fri., November 5, 2010 1:28pm
Unsecured creditors of bankrupt Sea Island Company will get pennies on the dollar for the money they're owed. A federal bankruptcy judge has approved the coastal resort's sale to a four-way partnership of out-of-state investors. The bulk of the company's $212 million sale price will go to secured creditors like banks. Unsecured creditors like retired executives will get just $6 million of the $100 million they're owed.
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Thu., November 4, 2010 7:22am
A bankruptcy judge has approved Sea Island Co.'s plan to sell its luxury resorts, golf courses and private clubs to settle the Georgia company's Chapter 11 case. Judge John S. Dalis noted Sea Island's creditors voted almost unanimously in favor of the $212.4 million sale as he ruled in court Thursday.
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Mon., October 11, 2010 7:45am
Bidders have agreed to join forces to buy the Sea Island Co. for $212.4 million in auction to settle the Georgia resort operator's bankruptcy case.
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Sat., October 9, 2010 8:58am
U.S. Bankruptcy Judge Robert Brizendine made the decision Friday after re-examining the case when it was revealed that Clint Wilder had a previous bankruptcy in 2001. Bankruptcy laws bar anyone from filing for protection more than once within eight years.
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Wed., October 6, 2010 7:13am
A second bidder will compete to buy the Sea Island Company when the coastal Georgia resort owner is sold at auction next week after filing for bankruptcy protection.
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Thu., September 30, 2010 8:16am
A proposed court settlement would give half of $1 million in prize money won on a TV game show by the former Georgia schools chief to three state-run schools for the blind and deaf.
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Thu., August 19, 2010 4:08pm
The personal bankruptcy rate among Georgians reached the third-highest in the nation last fiscal year. Nearly 8 out every 1,000 Georgians filed for bankruptcy in the fiscal year that ended June 30th.
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Wed., August 11, 2010 1:01pm
The Georgia-based Sea Island Company has filed for Chapter 11 bankruptcy protection. The coastal resort and development firm had trouble finding buyers for undeveloped land. Sea Island Company needed land buyers because it was in debt to the tune of $428 million.
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Thu., January 14, 2010 5:27pm
Morris Publishing, owner of 13 daily newspapers, will file for bankruptcy a
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Mon., January 4, 2010 2:15pm
New numbers show Georgia remains one of the leading bankruptcy states in th
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