Summary
LONG BEACH - A Santa Monica-based development team has bid $41 million to purchase the lease to the Queen Mary and its surrounding property, signalling a strong start to what could become a bidding war for the oceanfront acreage as early as this summer.
O&S Holdings has signed a non-contingency purchase agreement with Howard Ehrenberg, the bankruptcy trustee for Queen's Seaport Development Inc., which holds the lease to the city-owned ship.See the full content of this document
Extract
New Qm Plan On Deck
"I won't deny that I'm very pleased with the current situation," Ehrenberg said after issuing a press release Wednesday. "But I would prefer to hold off on being ecstatic until after the sale is approved."
QSDI declared Chapter 11 bankruptcy in March 2005 and has ...See the full content of this document
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