Teed-Off Residents Drive Bonita Bay To Brink Of Bankruptcy
It's not easy living on a golf course. Bonita Bay Group, once a premier developer of upper-crust golf communities in this upper-crust town, is on the verge of collapse. The company says it will be forced to file for bankruptcy if it has to refund $245 million in golf-club membership fees some h...
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Published in | Daily Bankruptcy Review |
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Main Author | |
Format | Trade Publication Article |
Language | English |
Published |
New York
Dow Jones & Company Inc
24.09.2009
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Subjects | |
Online Access | Get full text |
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Summary: | It's not easy living on a golf course. Bonita Bay Group, once a premier developer of upper-crust golf communities in this upper-crust town, is on the verge of collapse. The company says it will be forced to file for bankruptcy if it has to refund $245 million in golf-club membership fees some homeowners are demanding, in a battle that's pitting residents against each other and against the company that sold them lavish dream homes during the height of the boom. |
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