Efforts to re-establish a West Michigan resort and create jobs have stirred up the interest of two organizations competing to purchase the property. Millions of dollars of investment could spur renewed economic development in the area.
According to excerpts from the story:
Another developer with connections to Northern Michigan has surfaced with an interest in buying the Double JJ Resort in Rothbury. Axiom Entertainment — a multi-media company in Rochester, Mich. and developer of a proposed theme park in Grayling — has told Oceana County officials that it wants to purchase the Double JJ through U.S. Bankruptcy Court in Grand Rapids.
Whoever purchases the Double JJ must proceed through a liquidation plan presented by bankruptcy Trustee Thomas Bruinsma to creditors for their approval. Bankruptcy court Judge Jeffery Hughes eventually must approve the plan as well. The bankruptcy court already has a bid from developer Paul Nine and the Los Angeles-based Associated Ventures LLC.
Read the complete story here.
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