--- In AsburyPark@yahoogroups.com, "dfsavgny" <[EMAIL PROTECTED]> wrote:
> All one needed to do was to get the waterfront out of
> litgation. A master developer was not needed.
Carabetta owed the City over $12 million in taxes (about half of one
year's budget at the time). Carabetta's creditors were owed a
fortune.
If I recall correctly the price tag the Bankruptcy Judge put on it
to step into Carabetta's shoes was $13,000,000, (which went $6.5
million to Asbury and $7.5 million to Carabetta's creditors).
Such luminaries as the State of New Jersey, Hovnanian, Westminster
Realty Corp., The Applied Cos.,Berman Development Co. and Kushner
Companies each looked into it and took a pass.
Can you be more specific about how we should have gotten the
waterfront out of the clutches of the Bankruptcy Judge?
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