Will we finally see some conclusion to the seemingly eternal soap opera known as the Lakeland Ranch arena saga? Could be, as an auction is scheduled for November 17.
It’s been delayed once, but it looks like the auction of the partially started Lakewood Ranch (Fla.) arena will take place Nov. 17 as soon-to-be-former-owner DVA failed to line up financing after filing bankruptcy.
Still, don’t hold your breath: DVA could file bankruptcy again and delay proceedings again.
But that’s not likely to happen. Under state law, DVA would need to prove their financial situation is better than the last filing in June. As DVA has failed to arrange financing on $60,000 in interest payments to lienholder Schroeder-Manatee Ranch, that argument probably won’t fly. Schroeder-Manatee Ranch is expected to bid on the project.
But over the past four months, DVA has failed to live up to a Tampa bankruptcy judge’s order to pay first lien holder $60,000 in monthly interest on the arena, so a new foreclosure sale date has been set for the morning of Nov. 17, at the Manatee County Courthouse, Dan Perka, Schroeder-Manatee Ranch chief counsel, said Monday.
