A weak economy and lack of financing forced the owner of the Amelia Island Plantation into Chapter 11 bankruptcy last fall. But the potential new owner of the well-known resort says it has the financial strength to ensure its success once it emerges from bankruptcy.
The Amelia Island Co. filed a Chapter 11 reorganization plan in late May that is centered on a $45.9 million buyout by a fund associated with Atlanta-based Noble Investment Group. The money will be used to pay off the company's debts and allow the resort to emerge from bankruptcy.
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