A New Orleans bank is trying to force the firm behind the 36-acre River Park development, long planned along Baton Rouge’s riverfront downtown, into chapter 7, Greater Baton Rouge Business Report reported today. First NBC Bank filed documents instituting involuntary bankruptcy proceedings against River Park Development LLC. The bank has a claim of at least $50,001 against the limited liability company and alleges that debts are not being paid as they become due. Originally slated to break ground seven years ago, the project was supposed to open the door for a potential $600 million in economic development for downtown Baton Rouge. Hotels, live music venues, restaurants and residences were supposed to be located on the land. The project never got off the ground. The legal fight between First NBC Bank and River Park Development LLC has been underway for some time. Earlier this year, the bank — seeking $9.3 million it claims it is owed — sought to have the development’s land seized and sold during a public sheriff’s auction. The auction was set for June 29, but was put on hold after River Park Development LLC filed courts documents to successfully stop it.
