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LAKE HAVASU, AZ-More than six acres north of the landmark London Bridge Resort have been sold at auction to an undisclosed Phoenix investor for $4.1 million as part of a bankruptcy court settlement with the resort’s parent company, Epic Resorts.

Anthony Schnelling, who was appointed trustee of the property by a federal bankruptcy court, says former owner Thomas Flatley closed escrow on the deal last week after giving up his option to match the winning bid.. The 6.5-acre parcel is part of the resort’s English Village, a retail complex that has remained largely vacant in recent years.

The resort, one of Lake Havasu’s biggest tourist draws, has been in Chapter 11 bankruptcy since 2001 when Schnelling filed a $30-million court case alleging that Flatley and his associates schemed to keep assets beyond the reach of creditors. The auction of the retail parcel was part of a court-ordered settlement agreement.

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