Showing posts from March 29, 2011

From Josh McCann at the Island Packet

Daufuskie Island resort parceled off to creditors By JOSH McCANN 843-706-8145 Published Monday, March 28, 2011 Bankruptcy judge says Daufuskie resort can be sold in parcels, Nov. 10, 2010 The Daufuskie Island Resort & Breathe Spa is being broken up after more than two years in bankruptcy. Two secured creditors on Friday each took back a chunk of the resort's assets, splitting what was once a major employer on the sparsely developed island. A judge had authorized the creditors' moves late last year, but the trustee overseeing the bankruptcy had continued to try to sell the entire resort to a single buyer until the creditors' deals closed. "Despite every best effort and two years of very hard work during extremely difficult economic times, a single qualified purchaser simply did not materialize," said Tobin Spirer, a spokesman for trustee Robert C. Onorato. Onorato and associates provided information to almost 400 prospective