In today’s hearings in Warsaw, Huffer asked that receiver Rolland continue to put forth efforts to find a buyer that will continue with the original religious purpose Oakwood was founded upon. However, realizing that Rolland’s funds are quickly diminishing, Huffer granted him a broader range of just who can purchase the Oakwood property. He also gave the receiver permission to seek a sub mortgage to fulfill financial obligations.
Bidder Buckingham Companies LLC terminated its purchase agreement in late April citing controversy with the Wawasee Area Conservancy Foundation and the Wawasee Property Owners Association and other individuals over things such as use of the facility and proposed pier space.
Rolland said there are several parties interested in the property, but today’s status conference was to determine who would be able to bid on the purchase. Huffer’s decision means the Oakwood property could be sold to anyone, even a developer that could choose to tear the inn down and erect condominiums.
A complete report on today’s hearing will appear in the May 23 issue of The Mail-Journal.