Scheduled Auction of the Plaza's entire 10th Floor Cancelled by Legal Counsel in Bankruptcy Proceedings

ORLANDO, FL,  Nov. 18, 2009.... Worldwide Auction Realty Services’ auction of the entire 61,545 square foot 10th Floor of the Plaza (top right photo)  on Orange Ave. and Church St. in downtown Orlando scheduled for 5 p.m. Thursday, Nov. 19 has been cancelled.

In a prepared statement, Jon Chipps, managing director for Worldwide Auction Realty Services said his firm was informed by the legal counsel for Plaza LLC, Elizabeth Green, that the United States Bankruptcy Court, Middle District of Florida granted a continuance to parties involved in the Plaza LLC bankruptcy.

Green confirmed that the Plaza creditors did not approve the debtor’s reorganization plan and as such, a new hearing date was scheduled for Jan. 18, 2010.

Chipps said Green’s announcement was unforeseen and that the auction had been approved by Plaza LLC managing member, Cameron Kuhn. (middle left photo)

Chipps added that the Worldwide Auction Realty Services team had made a considerable investment in facilitating the auction and that he was very disappointed that the parties were unable to reach an agreement.

Chipps also expressed his apologies to any potential auction buyers that had invested their time in preparing to purchase at the auction.

For more information, contact,
Jon or Lori Chipps, Worldwide Auction Realty Services, 800 327-104
Larry Vershel or Beth Payan, Larry Vershel Communications 407 644-4142