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Sunterra Hires Restructuring Specialist to Fix Time-Share Problems

ORLANDO-One of the world's largest resort operators, the locally-based, 89-property company is banking on Gregory Rayburn of Jay Alix & Associates to pull it out of Chapter 11 and revive the former 7,800-person work force.

By Alex Finkelstein | Updated on October 13, 2000

ORLANDO-Sunterra Corp., struggling to do business under Chapter 11 of the U.S. Bankruptcy Code at 89 worldwide time-share resorts, is banking on Gregory Rayburn of Jay Alix & Associates to fix its financial woes.

The locally-based company, with a former global work force of 7,800, is asking the federal Bankruptcy Court in Baltimore, MD to approve Rayburn as president and CEO. Lincoln Morrison, the firm’s current chairman, would be vice chairman.

Jay Alix has offices in New York, Chicago and Detroit. The firm’s successful turnaround roster includes Zenith Electronics Corp and National Car Rental.

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