TAMPA, Fla.— The U.S. Bankruptcy Court in Delaware dismissed the adversary complaint filed by the Liberty group in a ruling this afternoon on motions to dismissed filed by Port Tampa Bay and the Irish Bank Resolution Corporation, in Special Liquidation. Last week, the Court heard arguments on the motions to dismiss the adversarial complaint made by the Liberty group related to the Channelside retail center. Based on those arguments, the Honorable Judge Christopher Sontchi dismissed all four counts in the Liberty group’s complaint.
Last year, the Liberty group failed in its bid to take control of the Channelside property, and since then Liberty has been attempting to hinder the redevelopment of the property into a first-class specialty retail center. Port Tampa Bay believes the Court’s ruling today is the first step in returning Channelside as a jewel of downtown Tampa.
“The port looks forward to moving forward in our efforts to bring about the full potential of Channelside for the benefit and enjoyment of all the people of Tampa Bay,” Paul Anderson, port president and CEO, said.
About Port Tampa Bay
Port Tampa Bay is Florida’s largest port and the largest economic engine in west central Florida, supporting nearly 80,000 jobs and generating almost $15 billion in annual economic impact. In addition to being a top 10 U.S. cruise port, the port handles a wide array of bulk, break bulk, containers and roll-on/roll-off cargoes, and is a major shipbuilding and repair center. The port was recently voted “Simply the Best” for world-class customer service in a Logistics Management Magazine reader poll. For more information, visit www.portTB.com.