Tuesday, June 22, 2010

Goldman Request to Foreclose on Sawgrass Resort Denied by Judge

June 21 (Bloomberg) -- Goldman Sachs Mortgage Co., the lender to the owners of Florida’s Sawgrass Marriott Resort, failed to win bankruptcy court permission to take over and sell the company’s assets.

Judge Paul M. Glenn in Jacksonville, Florida, denied Goldman’s request to lift the automatic stay, a part of the bankruptcy code that shields a company from creditors’ efforts to collect on its assets. Goldman Sachs Mortgage is a division of Goldman Sachs Group Inc

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