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Colonial Golf & Country Club
Wed July 11, 2012
Colonial Golf & Country Club sale approved
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.