1250 Oceanside creditor seeks more time to review disclosure statement

By Caroline Salls

Pittsburgh, Sept. 4 - 1250 Oceanside Partners secured creditor Ackerman Ranch, Inc. asked the U.S. Bankruptcy Court for the District of Arizona to continue the hearing on approval of the disclosure statement for the plan of reorganization submitted by 1250 Oceanside and Sun Kona Finance I, LLC, according to a Tuesday court filing.

Specifically, Ackerman Ranch asked the court to postpone the disclosure statement hearing to Oct. 21 from Sept. 16 "to allow sufficient time to review plan proponents' complex and lengthy disclosure statement."

Ackerman said a hearing on the company's motion for limiting some claims for purposes of distribution is already scheduled for Oct. 21 and is directly related to plan and disclosure statement issues.

1250 Oceanside is the Roseville, Calif.-based developer of the Hokuli'a project. The company filed for bankruptcy on March 6 under Chapter 11 case number 13-00353.

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