Cliffs Club & Hospitality Group Inc., a network of luxury residential communities located in the Carolinas, has emerged from chapter 11 protection under the ownership of an investor consortium led by the Carlile Group, Dow Jones DBR Small Cap reported today. The Carlile consortium won the right to take Cliffs Club out of Chapter 11 protection earlier this year after no other bidders stepped forward to challenge it at auction. Under the plan, noteholders owed $73.5 million were slated to recover less than 87 percent.
