>The Caribbean might be relaxing for vacationers, but it is often anything but for owners of resorts. Case in point: the tiny island of Nevis, where two creditors are trying to force into bankruptcy a hurricane-ravaged Four Seasons resort.
Hotel investor Maritz Wolff & Co. purchased the 196-room hotel in 1996. Three years later, Hurricane Lenny slammed through Nevis, flooded the hotel’s first floor and inflicted substantial damage, forcing the hotel to close for nine months for repairs. In 2008, even as Maritz Wolff negotiated for an extension to its $59 million securitized mortgage, another hurricane—Omar—pounded Nevis. The Four Seasons has yet to reopen, though owners of its 65 private villas still visit.