The Port of Tampa Bay has announced that the U.S. Bankruptcy Court in Delaware has dismissed an adversary complaint filed by the Liberty group in a ruling on motions to dismiss filed by Port Tampa Bay and the Irish Bank Resolution Corporation, in Special Liquidation. Last week, the Court heard arguments on the motions to dismiss the adversarial complaint made by the Liberty group related to the Channelside retail center. Based on those arguments, the port said, the court dismissed all four counts in the Liberty group’s complaint.
Last year, the Liberty group failed in its bid to take control of the Channelside property, and since then Liberty has been attempting to hinder the redevelopment of the property into a first-class specialty retail center. Port Tampa Bay believes the Court’s ruling today is the first step in returning Channelside as a jewel of downtown Tampa.
“The port looks forward to moving forward in our efforts to bring about the full potential of Channelside for the benefit and enjoyment of all the people of Tampa Bay,” Paul Anderson, port president and CEO, said.