Newly formed partnership acquires debt of St. Simons resort
by The Florida Times-Union
Oct 16, 2012 | 1024 views | 0 0 comments | 3 3 recommendations | email to a friend | print
ST. SIMONS ISLAND - A newly formed company is acquiring millions in debt of an island golf and tennis resort, Glynn County court records show.

In transactions that began last week, recently incorporated Sea Palms Partners LLC is now on the books for debt formerly held by Synovus Bank.

Sea Palms Corp., Sea Palms Realty, Sea Palms Inn Inc., Larry Singleton, the owner of Sea Palms, and others borrowed the money from Synovus subsidiaries Columbus Bank and Trust and The Coastal Bank of Georgia, records in Glynn County Superior Court show.

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