Coco Beach Golf & Country Club creditor wants sale hearing rescheduled

By Mark Reccek

Bethlehem, Pa., Aug. 7 – Coco Beach Golf & Country Club, SE’s secured creditor, Puerto Rico Tourism Development Trust, requested that a hearing involving the sale of assets be rescheduled, according to a court filing Thursday with the U.S. Bankruptcy Court for the District of Puerto Rico.

TDF is specifically requesting to convert the Aug. 10 sale hearing into a status conference.

TDF cites lack of proper and adequate notice and service, along with due process concerns.

Rescheduling the sale hearing for a later date will permit Coco Beach Golf & Country Club to comply with notice and service requirements and satisfy due process deficiencies.

According to the Thursday court filing, Coco Beach Golf & Country Club has failed to provide notice of the sales motion to the creditors Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority and Banco Popular de Puerto Rico.

“As a result of these deficiencies, at this stage, the sale motion may circumvent the requirements for confirmation under a plan and impermissibly seeks to extinguish liens and claims,” the court filing said.

Coco Beach’s real property consists of the Trump International Golf Club at Coco Beach at Zarzal Ward, Rio Grande, Puerto Rico. The club operates as the Trump International Gulf Club Puerto Rico.

Coco Beach Golf, a San Juan-based golf club, filed for bankruptcy on July 13 in the U.S. Bankruptcy Court for the District of Puerto Rico. The Chapter 11 case number is 15-05312.

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