A Chapter 11 petition was filed in the Northern District of Georgia for Magnolia Beach, LLC (Ch. 11 Case No. 07-79221 (filed Nov. 15, 2007), signed on behalf of an entity called "REA Companies, Inc." as managing member.

The debtor’s property is a development in Panama City, Florida called Magnolia Plantation on St. Andrew Bay.

At Magnolia Plantation, great living extends beyond your property line. Here, we welcome every homeowner to join in the warmth and old world charm of this unique waterfront southern plantation neighborhood, complete with a swimming terrace overlooking St. Andrew Bay, a clubhouse featuring a summer kitchen for outdoor entertaining, and a 28 slip private marina with a dedicated boat ramp. Enjoy endless activities, pampering pleasures and waterfront wonders. Come Live. Come play. It’s all here waiting for you.