Oceanwide Plaza buyer faces resistance, confirmation hearing pushed
Things are looking less certain for downtown Los Angeles’ infamous, incomplete graffiti-covered skyscrapers, a month after its largest creditors became a white knight buyer. The bankruptcy court on Monday approved the City of Los Angeles’ request for a continuance of the confirmation hearing that could seal the stalled-Oceanwide Plaza’s fate. It was supposed to be on April 9 but is now scheduled for May 19. But the problems go beyond the city’s plea. The Los Angeles County Treasurer and Tax Collector and the United States Trustee, a Department of Justice entity that oversees the federal bankruptcy system, have filed their […]This article originally appeared on The Real Deal. Click here to read the full story.
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