04/12/2024
PAVILLION AND RELATED PROPERTY: SALE STATUS
By John Bogack, Editor
All during the winter this editor has gotten multiple inquiries from readers about the sale of the above night club and related businesses in FI Pines. During this same period of time there were two rounds of what appeared at the time credible rumors that a sale had actually occurred. In both cases those were not true reports. At this point in time this editor has not confirmed anything that would indicate that any sale had actually occurred although it’s not impossible a sale might be pending and won’t be confirmed until actually closed upon.
That leaves the public with little information but there is some.
First off there is the earlier announcement from PJ McAteer from the end of 2023 valuable because it reiterates that this season, whatever else might be, all businesses that are legally allowed to be open will be open for business. That statement is important because it also lists various businesses that are outside of any bankruptcy proceeding and sale to satisfy creditors as part of the any court ordered bankruptcy statement. Those will remain under the ownership and operation of Mr. McAteer come what may of the other properties that are affected by the bankruptcy proceeding.
You can view the sales prospectus provided today to get a good idea of just which businesses will be impacted by a change of ownership. In that post there is a PDF link with a better identification of impacted businesses: https://muroffhospitality.com/property/fire-island-pines/?fbclid=IwAR1mfjahaYtSr6icc7E7FlYLUmEf1UQOKMfW96EgT2d3MyQsTzmXbK6eRlg
Lastly there is a public record of the bankruptcy proceeding. Our review of it does disclose that the bankruptcy action has ended recently, last month in fact with a confirmation of a reorganization plan now in effect.
We are not going to make any assessment of it other than what has already been mentioned. But it is a public record and readers who feel so inclined may wish to review the court data for their own information.
This is how that court record can be found: use the PACER system to find the court record. A free PACER account can be opened. Follow the instructions to find the case identified in bankruptcy court as Outpost Pines LLC. If there are any costs involved in reviewing or downloading records users will be advised before any expenses are incurred. When using this system patience is a virtue, it’s not always user friendly.
Link: https://pacer.uscourts.gov/
And of course, when any real news occurs on this subject we will be reporting it as soon as it happens.
