La Manga Club stays open despite insolvency
The popular Spanish resort, La Manga Club will continue to operate despite its insolvency declaration last week.The insolvency agreement allows payment to all creditors to be put on hold without any financial penalty until 2010. The 1,220-acre Costa Calida resort features three golf courses, 28 tennis courts, eight football pitches and a five-star Hyatt Regency [...]
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Yeah I saw this yesterday and posted a link to the news article....I suspect the delayed payment to creditors without penalty will cause a few casualties...it does seem a little unfair ;-)
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