On April 28, 2026, the court approved a sale and investment solicitation process that authorizes an appointed chief restructuring adviser to seek potential buyers, investors or other restructuring proposals. The process also allows for proposals that combine both investment and asset sales. The scheme resulted in the American lender, Compeer Financial PCA, suffering losses of approximately US$35 million. Ray Price, president and director of Sunterra group, was also found personally liable. Advertisement AdvertisementAdvertisement AdvertisementThe company's income statements had been submitted to Compeer in connection with the renewal of a line of credit.