ILX owes Textron $29 million in loans. If the plan is approved, ILX will sell the majority of its assets to Diamond Resorts Corporation. The parties expect to file with the bankruptcy court the joint plan of reorganization containing the details of the proposed transaction in the near future.
In the ecclesiastical courts, adultery was any act of sexual intercourse by a married person with someone not his or her spouse. The act was considered wrongful regardless of whether the other person was married. At Common Law, adultery was wrongful intercourse between a married woman and any man other than her husband.
Voluntary sexual relations between an individual who is married and someone who is not the individual's spouse. Adultery is viewed by the law in many jurisdictions as an offense injurious to public morals and a mistreatment of the marriage relationship. Statutes attempt to discourage adultery by making such behavior punishable as a crime and by allowing a blameless party to obtain a Divorce against an adulterous spouse.