January 30, 2016 |
The property and liquor license for the defunct Coastline Bar & Grill, a popular Cherry Hill landmark, is expected to change hands soon after a federal bankruptcy judge approved the sales. According to court records, Judge Andrew B. Altenburg approved the sale of the liquor license for more than $1 million to the Village at Woodcrest, the company that owns and operates the Woodcrest Country Club and golf course, also in Cherry Hill. Altenburg approved the sale of Coastline's property at 1240 Brace Rd. for more than $2.5 million to Orens Development Inc., which builds senior living facilities.
January 28, 2016 |
TRENTON - Back from the campaign trail, Gov. Christie announced a plan Tuesday for the state to take control of Atlantic City's finances. Christie, flanked by Senate President Stephen Sweeney (D., Gloucester) and Atlantic City Mayor Don Guardian at a Statehouse news conference, said "all three of us up here agree" that greater state involvement is needed in Atlantic City, which has been rocked by casino closures. Guardian's presence in Trenton alongside Christie and Sweeney represented a détente in a high-stakes standoff that had state officials threatening a hostile takeover while city officials considered bankruptcy.
January 26, 2016
Johnny Manana's L.L.C. , 4201 Ridge Ave.; Philadelphia; Chapter 11; no schedules available. Steakhouse Hospitality Associates, I.L.P., Reading; Chapter 7; no schedules available. Baltimore Grill, Inc., formerly known as Tony's Baltimore Grill , 2800 Atlantic Ave., Atlantic City; Chapter 11; no schedules available. Richard T. Hess , 52 Scenic View Dr., Sicklerville; Chapter 7; no schedules available. SOURCE: The Legal Intelligencer; U.S. Bankruptcy Court for the District of New Jersey
January 22, 2016 |
TRENTON - Atlantic City is considering filing for bankruptcy, Mayor Don Guardian said Wednesday, even though the state is likely to block such a move and is pushing a plan to take control of the local government's finances. Guardian said he planned to hold an emergency meeting of the City Council next week to discuss a possible bankruptcy amid a fiscal crisis. Senate President Stephen Sweeney said that would be reckless and has attacked the city's government as incapable of reining in spending.
January 19, 2016 |
Campaigning in Iowa during the weekend, Gov. Christie wouldn't say whether he supports Senate President Stephen Sweeney's plan for a state takeover of Atlantic City. But he said the local government hadn't done enough to turn around the beleaguered Shore resort's finances. "We now need to get the government under control in Atlantic City," Christie said after a town hall meeting in Fort Dodge. "The government in Atlantic City - and I've said this under the previous mayor, many times, and the current council - they cannot control themselves to do the job the right way," Christie said.