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.
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.