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Renault Winery Set for Sept. 22 Bankruptcy Auction

Submitted by jhartgen@abi.org on

Attorneys for the bankrupt-but-still-open Renault Winery Resort and Golf asked a federal judge this week to schedule a Sept. 22 auction for virtually all of the property’s assets, including a 150-year-old vineyard billed as one of the oldest continuously operating wine producers in the U.S., the Press of Atlantic City (N.J.) reported today. The resort filed for bankruptcy protection last November, having fallen behind on loans from mortgagee OceanFirst Bank. The bank obtained a $7.7 million mortgage foreclosure judgment against Renault last summer. Offers are being solicited for the entire property or for each of three components: a restaurant and 54-room hotel, an 18-hole golf course, and a restaurant and 40-acre winery, said Hank Waida, managing director of Equity Partners HG, the investment banking firm running the auction.