In re Sterling Bluff Investors, LLC

OPINION

EDWARD J. COLEMAN, III, Bankruptcy Judge.

In 2008, a group of investors formed Sterling Bluff Investors, LLC (“SBI” or “Debtor ”) to purchase the last unsold lots and the right to receive the proceeds from the sale of numerous club memberships in a luxury residential development called The Ford Plantation. These investors hoped that these assets could be sold over time at a profit. In its entire history, SBI never sold a single lot, employed a single person, or erected a single building. The Debtor’s proposed plan reveals its intent for the future: the Debtor’s business model as a…