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Court Denies EnCap Golf Ch. 11 Motion

EAST RUTHERFORD, NJ-The troubled developer of a massive mixed-use project in the Meadowlands was dealt another blow this week.

By Maria Wood | Updated on February 05, 2009

EAST RUTHERFORD, NJ-A controversial plan to build a massive mixed-use project on 800 acres of reclaimed landfills in the Meadowlands took another turn earlier this week when a US Bankruptcy Court judge dismissed a Chapter 11 reorganization motion filed by EnCap Golf Holdings, a published report in The Record newspaper stated. Without bankruptcy protection, EnCap, a subsidiary of Raleigh, NC-based Cherokee Investment Partners, could face a number of drawn-out lawsuits from 200 unsecured creditors, according to the article.

“I regret the ending,” says Judge Novalyn Winfield, as quoted in The Record. “But a superb result just wasn’t to be.”

This is just the latest in a string of setbacks for the developer, which had sought to build golf courses, 750 hotel rooms, 750,000 square feet of office, 2,000 homes and 100,000 square feet of retail space at the site. The project has been plagued by cost overruns and delays, until in May, EnCap filed for Chapter 11 bankruptcy protection.

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