Orlando bankruptcy partner Elizabeth A. Green and of counsel attorney Jimmy D. Parrish were mentioned in an article published by The Deal Pipeline regarding the Island One bankruptcy. Green and Parrish serve as debtor counsel to the company, which develops and manages timeshare properties in Florida and the Caribbean.
“Debtor counsel Elizabeth Green of Baker & Hostetler LLP said Judge Karen S. Jennemann of the U.S. Bankruptcy Court for the Middle District of Florida in Orlando approved the debtor’s use of cash collateral on a final basis on Wednesday, Nov. 17,” the article said.
“The debtor is now looking toward a Dec. 10 auction of its assets or equity. In its motion to approve bidding procedures the debtor said its investment banker, Western Reserve Partners LLC, has actively marketed the debtor’s assets and has already executed 19 confidentiality agreements,” the article continued.
Green was also mentioned as commenting on the status of a potential bidder in the auction. “Prior to filing for bankruptcy, Island had begun sale negotiations with Bay Harbour Management LC. Early court documents indicated Bay Harbour would be the stalking-horse bidder in the auction, but Green said that is no longer the case. Green said Bay Harbour may still bid on the assets, but is not the stalking horse.”
Parrish was also named in the article as debtor counsel to Island One.