Judge Approves $21M Settlement Between Bankrupt Developer, Subcontractors

(February 4, 2020, 9:44 AM EST) -- RALEIGH, N.C. — A federal bankruptcy court judge in North Carolina on Dec. 23 approved a $21 million settlement between a bankrupt developer and the parties who performed construction work at the SkySail Luxury Condominiums, holding that the terms of the agreement are fair and reasonable and in the best interests of the debtor’s bankruptcy estate (In re:  New Bern Riverfront Development LLC, Case No. 09-10340-8-SWH, Adversary Proceeding No. 10-00023-AP, E.D. N.C. Bkcy.)....

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