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Channelside saga back in federal court, but no rulings yet

The Channelside Bay Plaza saga was the subject of another hearing in federal bankruptcy court in Delaware on Tuesday.

The judge heard arguments from three different sides but did not make any rulings regarding the many legal issues surrounding the troubled downtown complex or its eventual ownership. U.S. Bankruptcy Judge Christopher Sontchi will rule on Tuesday's arguments during another hearing on April 9 at 10 a.m.

The bankruptcy court controls the downtown property's fate right now because the bank that foreclosed on it, the Irish Bank Resolution Corp., is seeking American bankruptcy protection.

The Tampa Port Authority tried to buy Channelside from the IBRC but a former suitor, Liberty Channelside LLC, challenged the port's deal and got a judge to dismiss it in February.

Tuesday's hearing was a continuation of that legal battle. Lawyers for the port and bank challenged Liberty's claims and standing to take part in Channelside litigation.

The port asked the judge to dismiss Liberty's lawsuit and argued that the group has no standing to take part in the case. The port argued that, and added that the court may not have jurisdiction over the Channelside lease because it gave the lease to the receiver currently running the complex. Liberty defended its standing in the Channelside case and argued against the port and bank's claims.

Channelside saga back in federal court, but no rulings yet 04/01/14 [Last modified: Tuesday, April 1, 2014 6:38pm]
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