Crescent Resources LLC Repositions Ownership of Grand Haven Golf Club

Crescent Resources is beginning shift assets to meet their post-bankruptcy plan.

Palm Coast, FL – June 21, 2010 – After emerging from Chapter 11 bankruptcy, Crescent Resources LLC has begun repositioning its assets to fit its restructured business plan. A deed signed June 9, 2010 and filed in Flagler County, FL on June, 14, 2010 documents the transfer of ownership of the Grand Haven Golf Club from Crescent Resources, LLC to Grand Haven Golf Club LLC.
Two of Crescent’s Florida golf communities were recently sold; Southern Hills and River Hall. It’s widely believed that Crescent will be selling off many of its Florida and Georgia holdings.
4 replies
  1. Lonnie Ritzer
    Lonnie Ritzer says:

    conversation with lawyer

    According to my conversation with the lawyers for Crescent, the membership contracts with the golf club are not affected by the plan or organization. I spoke with them after receiving the order of confirmation.

  2. Toby
    Toby says:

    Reply to Lonnie

    That’s true. On May 18th I wrote:

    "Membership Agreement and Golf Club Membership Deposit Refund Programs" will remain intact at both the Grand Haven Golf Club and The Grand Club.

  3. Toby
    Toby says:

    Reply to Golf1

    The buyer is documented as Grand Haven Golf Club LLC, a Delaware Corporation. You can go to the Delaware Dept of State website, but you have to pay for any information beyond whether of not a corporation is ‘Active.’

    There is no information about The Grand Club selling, however there was a sale of a single Palm Coast lot from Landmar to The Grand Club.

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