Sale of Marina to Avoid Multimillion-Dollar Deficiency Against Guarantors

Cabi New River, LLC
Representation of Cabi New River, LLC, as debtor and debtor in possession in its chapter 11 reorganization. Cabi New River was the owner of a dry-stack marina, restaurant, and water taxi service operating on the New River in Fort Lauderdale. We negotiated with the secured lender for a consensual sale of the marina in chapter 11, thereby avoiding a multimillion-dollar deficiency claim against guarantors.
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