Colonial Golf & Country Club sale approved

Jul 11, 2012

A federal bankruptcy judge has approved the sale of Colonial Golf & Country Club's 88-acre property to businessman John Georges and real estate developer Wayne Ducote.

Judge Elizabeth Magner congratulated the parties assembled Wednesday after confirming the Harahan-based club's Chapter 11 reorganization plan.

The Times-Picayune reports the 87-year-old club closed in January and declared bankruptcy in February, a day before the property was to be sold at a state court-ordered auction.

Under the reorganization plan, Colonial will sell its land and buildings to Georges and Ducote for $8.5 million.

No one objected to the proposal.