Split 1st Circuit: Property Rights Belong To Developers In Timeshare Bankruptcy

Split 1st Circuit: Property Rights Belong To Developers In Timeshare Bankruptcy

BOSTON - A divided panel of the First Circuit U.S. Court of Appeals on Jan. 16 ruled that two property developers had a secured interest in the real property of a bankrupt timeshare, over objections raised by the bank that financed the project (ScotiaBank de Puerto Rico v. Joseph Burgos $(In Re: The Plaza Resort at Palmas Inc.$), No. 12-9005, Chapter 11, 1st Cir.; 2014 U.S. App. LEXIS 890).

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