Our firm has represented parties on all sides of reorganizations and bankruptcies related to recreation entities, such as golf courses and ski resorts.
Examples of our representations in this industry include the following:
- Managed successful Chapter 11 reorganization on behalf of The Club At Shenandoah Springs Village, which involved a retirement community of 1,819 homeowners in Thousand Palms, California. Consummated sale of 18-hole regulation golf course and 9-hole executive golf course to new owner, allowing debtor to exit Chapter 11. Coordinated cash flow deal, enforcing Covenants, Conditions and Restrictions (CC&R) rights that indicated money owed to the club by associated real estate developments.
- Represented company in virtual reality experience space, with locations primarily in malls, in successful Chapter 11 reorganization. Case involved new funding, consensual modification of rights of secured lenders, restructured leases, and elimination of unsecured debt. Company obtained further equity funding post-Chapter 11 and has grown significantly.
- Represented live theater business in successful Chapter 11 reorganization.
- Represented Silverstone Ranch Community Association in Chapter 11 case filed by Stoneridge Parkway, a 272-acre planned community in Las Vegas, Nevada that included approximately 1,520 homes built around a 27-hole championship golf course. Transferred venue from Los Angeles to Las Vegas and successfully convinced the bankruptcy court that the case should be dismissed with a prohibition against re-filing, arguing that the planned sale of the golf course to a developer for the purpose of building new homes on large sections of the golf course property was violative of the recorded Covenants, Conditions and Restrictions (CC&Rs).
- Obtained right to foreclose on behalf of lender in San Diego Chapter 11 matter which was converted to a Chapter 7. Handled agreement with Chapter 7 trustee to locate potential buyers for 18-hole golf course owned by Premier Golf Properties, ultimately leading to the lender’s right to foreclosure in the absence of an acceptable bid.
- Represented California ski resort in successful Chapter 11 reorganization case involving significant resistance from creditors and former shareholders. Successfully negotiated and confirmed plan of reorganization, positioning client to raise financing required to bring in alternative water sources for production of snow.
- Represented landlords, lenders, debtors, and others in Chapter 11 cases and out-of-court workouts involving motion picture theater businesses.