The firm that has asked Louisiana’s highest court to consider its suit challenging the World Trade Center building’s redevelopment in New Orleans has filed for bankruptcy in a Florida court, a move that could let it dodge much of its more than $6 million in debts.It's a little disappointing to see Fisher has abandoned the tack of challenging the constitutionality of a state law passed last year at the mayor's urging specifically to shut down this lawsuit. It's a bad law. Maybe we can come back to that at some point in the future. But for now, it's remarkable that despite everything the mayor and his allies have done to push this project forward through Fisher's obstructions... nevertheless he has persisted.
The company's owner sees the bankruptcy and related court proceedings as a Plan B, should the Louisiana Supreme Court refuse to take up the World Trade Center case.
“The best thing I can do is to bring it (to Florida) and see if I can get a fair shake,” said Stuart “Neil” Fisher, owner of Two Canal Street Investors Inc. “If I’m wrong, I lose. If I’m right, (the WTC project) would probably go for a rebid.”
He can't just be doing this for sport, though, right? For a while it looked like he was angling for a buyout. Fisher famously bought Two Canal Street Investors Inc for $10 after its bid had already failed. If he were looking to flip it over into a quick profit, he should have completed that deal by now. If that's the play, it's well past time to call in Sidney Torres and film a Very Special Episode of The Deed
But I'm starting to wonder if something else is up. Fisher says his goal is just to force the thing back up for rebid. Who would benefit from that?