Marina developer files for bankruptcy protection

An entity that owns land off Old Hickory Lake in Gallatin that it planned for a marina has filed for bankruptcy protection in a move that a spokesman said was aimed at preventing foreclosure.
Foxland Harbor Marina LLC made the filing in Nashville's U.S. Bankruptcy Court in advance of a foreclosure sale that lender American Security Bank & Trust planned for Monday morning.

The bankruptcy filing includes an estimate of $1 million to $10 million in assets and a similar range for liabilities.

Foxland Harbor Marina is seeking approval from the Army Corps of Engineers to build a full-service marina at Station Camp Creek. American Security also is a lender to Fairvue Club Properties, the owner of the Club at Fairvue at Fairvue Plantation that filed for bankruptcy protection earlier in December.

— GETAHN WARD

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