|
|
Article: DETROIT PENSION FUND GAINS CONTROL OF GRAND TRAVERSE RESORT
- Article from:
- PR Newswire
- Article date:
- April 22, 1993
CopyrightCOPYRIGHT 1993 PR Newswire Association LLC. 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)
|
TRAVERSE CITY, Mich., April 22 /PRNewswire/ -- U.S. Bankruptcy Court Judge Jo Ann C. Stevenson today approved the plan of reorganization filed by the General Retirement System of the City of Detroit, the resort's main lender, allowing it to take over control and operation of the resort without waiting for the normal six-month foreclosure period to run.
Grand Traverse Resort is considered one of the Midwest's premier resorts. It has hosted the Michigan PGA Open since 1981, and its championship golf course, The Bear, has been the home of the Open since its completion in 1985. The Bear was recently selected to host the Open for at least another three years.
Michael S. ...