A bankruptcy court judge is scheduled to hear a motion today that would authorize the sale of substantially all the assets of the Daufuskie Island Resort and Breathe Spa.
The only known potential buyer is Montauk Resorts of North Carolina, which has offered $49.5 million.
Until the hearing at 10 a.m. in the courtroom of the Beaufort Federal Building, other potential buyers can submit bids, which would trigger an auction, a spokesman for the trustee overseeing the case has said.
Neither trustee Robert Onorato nor his spokesman could be reached for comment Tuesday.
Digital Access for only $0.99
For the most comprehensive local coverage, subscribe today.
The resort, which declared bankruptcy nearly a year ago, was once a major employer on the sparsely developed, 5,000-acre island, which is accessible only by boat. The resort includes an inn, two golf courses, tennis courts, several restaurants, an equestrian center and entitlements to develop more than 500 commercial and residential parcels.
- The (Hilton Head) Island Packet