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Article: Half Moon Bay seeks shelter from creditors. (Croton River Club Inc. files for protection from creditors)
- Article from:
- Westchester County Business Journal
- Article date:
- February 25, 1991
CopyrightCOPYRIGHT 1991 Westfair Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Half Moon Bay seeks shelter from creditors
The owner and developer of one of the more auspicious luxury residential condominium projects in Westchester County has filed for Chapter 11 bankruptcy, citing crippling legal costs and the sour local economy.
The Cronton River Club Inc. filed for protection from its creditors Feb. 17 in U.S. District Court in White Plains on the unfinished Half Moon Bay project in Croton-on-Hudson.
It is unclear just how - or if - the Croton River Club will reorganize, according to a company official, although some industry sources say the vacant units may be auctioned off to raise cash.
While the developer ...