RV Daily Report Contributor posted on March 11, 2010 10:40
BILLINGS, Mont. -- A bankruptcy judge is expected to a confirm a debt settlement plan for a Red Lodge real estate developer that banks on money generated from leasing lots in a planned luxury RV resort.
According to the Billings Gazette, U.S. Bankruptcy Judge Ralph B. Kirscher offered oral approval of the reorganization plan for Jeanne Rizzotto in court Tuesday, according to one of her attorneys. Written confirmation of the plan is expected today.
Under the reorganization plan, Rizzotto will attempt to pay her creditors with revenue from a proposed high-end development for million-dollar motorhomes. Known as the Of Course RV Resort, the project would sit on 190 acres just north of Red Lodge.
To read the complete report from the Billings Gazette, click here.