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The history of the Baha Mar resort complex in the Bahamas is a lengthy and confusing affair that, according to the project’s unhappy former owner, hadn’t been fully told until this week, according to a WSJ Pro Bankruptcy commentary. BML Properties Ltd., the developer that lost an $845 million investment when the project collapsed into bankruptcy, sued the Chinese contractor responsible for building the project in New York state court on Tuesday, eight months after its long-awaited opening. The beleaguered resort, a $3.5 billion project that was stalled for more than a year amid a feud between BML, Chinese investors and the Bahamian government, is now being run by Chow Tai Fook Enterprises Ltd., the Hong Kong-based owners of the Rosewood Hotel chain.

Creditors of American media entrepreneur Robert F.X. Sillerman are seeking to force the onetime billionaire into bankruptcy to try and collect on a $7.36 million judgment against him, according to court documents, Reuters reported. Two Chicago-based concert promoters yesterday filed an involuntary chapter 7 bankruptcy petition against Sillerman in U.S. Bankruptcy Court in Manhattan. They are seeking to collect a judgment they won last month against Sillerman over a promissory note he guaranteed on behalf of SFX Entertainment Inc. Sillerman founded the company in 2012 to promote electronic dance music festivals, and in 2014 acquired React Presents Inc. and Clubtix Inc. from Jeffrey Callahan and Lucas King. Part of the payment for the deal was in the form of a $10 million promissory note. SFX Entertainment acquired festivals such as TomorrowWorld but had trouble bringing them together in one corporate family and filed for bankruptcy in February 2016. A month later, King and Callahan and the their two companies sued Sillerman in Chicago federal court to collect on the promissory note.

Bill Melvin, owner of Liquid Asset Partners, says the new operators of the Skip Barber Racing School will bring the famed academy back to its original glory, MLive.com reported. Liquid Asset Partners, which purchased the name and assets of the school in bankruptcy court last summer, has sold the school's brand to DeMonte Motorsports, an operator of racing schools based in Long Island, New York. Skip Barber Racing School, a 40-year-old institution whose alumni includes racing drivers Michael Andretti, Danica Patrick, Juan Pablo-Montoya, Bill Elliot, Jeff Gordon and Kyle Petty, was sold to Liquid Asset Partners for $830,000 under an agreement approved by a New York bankruptcy court on Tuesday, Aug. 8. Since purchasing the school, Melvin sold off most of its assets, which included a fleet of race cars and related equipment, in an online auction.

China Construction America Inc. was accused in a lawsuit of ripping off the original developer of the long-delayed $3.9 billion Baha Mar resort in the Bahamas by submitting fraudulent bills and collecting undeserved fees, Bloomberg News reported. BML Properties Ltd., led by wealthy Bahamas businessman Sarkis Izmirlian, sued CCA Tuesday claiming the state-owned Chinese contractor pulled off a “massive fraud” to enrich itself at BML’s expense, leading to the collapse of the project in 2015. Delays in the construction of the biggest and most expensive resort to be built in the Caribbean have been a drag on the Bahamian economy in recent years. BML claims that CCA submitted hundreds of millions of dollars in fake bills, understaffed the project and used it as a training ground for inexperienced workers. CCA knew it wouldn’t be able to meet the planned December 2014 deadline to open the resort but created the appearance that it would, in order to remain on the project and collect undeserved fees, BML claims. BML is seeking at least $2.25 billion in damages. BML filed for chapter 11 bankruptcy protection in Delaware in 2015. A U.S. bankruptcy judge dismissed the case in favor of a Bahamian court.

Federal regulators are allowing cyber insurer Beazley Group to cover a $2.3 million HIPAA fine on behalf of its bankrupt client, 21st Century Oncology, according to Healthcare Info Security. Earlier this month, the Fort Myers, Fla.-based company agreed to pay HHS' Office for Civil Rights (OCR) a $2.3 million settlement to resolve issues related to a 2015 data breach that affected 2.2 million patient records. Separately, it reached a $26 million settlement, resolving false claims allegations and a self-disclosure that it submitted false attestations regarding the use of EHR software. However, in May, 21st Century Oncology filed for chapter 11 bankruptcy. OCR has repeatedly said that it doesn't wish to put organizations out of business when issuing these fines, but privacy attorney Adam Greene of law firm Davis Wright Tremaine, who was not involved in the case, told Healthcare Info Security that "when things might be tough financially, OCR clearly still expects the organization to put significant resources into privacy and security."

The Weinstein Co. board of directors met on Friday to consider bids for the struggling film and television studio, the Los Angeles Times reported. Bids came due last week, and the board members are expected to make a decision quickly as the company struggles to stay afloat amid the swirling sexual assault allegations against co-founder Harvey Weinstein. The board, which includes Lance Maerov and Tarak Ben Ammar, must choose a bidder for continued negotiations. The directors are likely to come to a decision about how to proceed during the weekend, if not before, the source said. Board members are said to be considering five or six serious offers for all or part of the company. Interest has been limited, given the heavy legal liabilities that would come with any deal. Multiple women have sued Weinstein Co. over the alleged conduct of its co-founder. Weinstein was fired by the board in October shortly after sexual harassment allegations against him were first reported.

Creditors of Toys ‘R’ Us UK overwhelmingly approved the struggling retailer’s restructuring plan at a meeting yesterday, enabling it to stave off a collapse into administration, Reuters reported. Earlier this month the British arm of Toys ‘R’ Us Inc of the United States, which filed for bankruptcy protection in September, said it would seek creditor approval for a Company Voluntary Arrangement (CVA). The plan will see the closure of at least 26 of its 105 British stores in 2018 and reduced rent on the stores that stay open. It would lead to 500-800 redundancies among its total workforce of 3,200. The stores earmarked for closure will, however, remain open as normal through Christmas and into the new year. At yesterday’s meeting 98 percent of Toys ‘R’ Us’ UK creditors, voted in favour of the restructuring proposals, surpassing the required 75 percent threshold.

Exco Resources Inc. reached a deal for $250 million in bankruptcy financing if its debt restructuring negotiations require a chapter 11 filing, WSJ Pro Bankruptcy reported. The Dallas-based energy company said yesterday that it hadn’t yet decided to file for bankruptcy protection but had entered into standstill agreements with senior lenders and secured a commitment to finance its potential chapter 11. A forbearance agreement signed this week gives Exco until January 15 to hammer out restructuring terms without the danger of creditors declaring defaults over its failure Wednesday to make a $27 million interest payment, according to a securities filing. The company is also considering a comprehensive out-of-court restructuring strategy.

Georgia regulators gave the go-ahead for Southern Co. to finish the only new nuclear power under construction in the U.S. after it fell years behind schedule and costs soared to more than $25 billion, Bloomberg News reported. The Georgia Public Service Commission approved a revised plan by Southern’s Georgia Power and its utility partners to finish two delayed reactors at Plant Vogtle at higher costs with a unanimous vote on Thursday. The commission told Georgia Power it would have to agree to lower returns on the plant, a condition the company said that it would accept. The ruling provides a way forward for the Vogtle project, the first U.S. nuclear power plant to be licensed in three decades. Southern, which owns 46 percent of the project, said its estimated costs had soared to $12.2 billion after the plant’s contractor Westinghouse Electric Co. declared bankruptcy earlier this year.