COURSE BUILDERS IN ROUGH; SAND CANYON PARTNER FILES FOR BANKRUPTCY.

Byline: Teresa Jimenez Daily News Staff Writer

A golf course development company planning to build The Oaks at Sand Canyon, which would include two courses and 73 homes, has filed for bankruptcy under the Chapter 11 reorganization program.

Robinson Golf Holdings, LLC, of Laguna Niguel filed for protection from creditors in an effort to establish agreements with investors in the project, including Stan Fargeon, who has been an advocate for the development, said Robinson Golf attorney Vince Coscino.

``There's never been any real written agreement that absolutely says who's supposed to do what and when is it supposed to happen,'' Coscino said. ``We want to clarify it. We can't get new partners until our own house is in order.''

Coscino estimated that the restructuring could be resolved by mid-December. By then, Robinson Golf Holdings hopes to have agreements in place with Fargeon and his partners who contributed to Hunter's Green Developers, he said.

Hunter's Green and Robinson Golf Holdings are partners in The Oaks at Sand Canyon, Coscino said. Under the loose agreement reached when development efforts began in 1996, Robinson Golf was expected to sell the golf courses to The Oaks at Sand Canyon - essentially receiving reimbursement for the cost of the project, he said.

Investors in Hunter's Green, who initially contributed about $700,000, stopped providing money to the development when they became unclear of their rights in the project, Coscino said.

Meanwhile, Robinson Golf Holdings continued to make payments on purchased property and options deals reached with property owners, Coscino said.

``We have monthly options payments and other expenses that amount to $25,000 a month,'' Coscino said. ``None of it has been reimbursed and Robinson has paid.''

Over the next couple months, Robinson Golf Holdings plans to offer Hunter's Green investors the option of being bought out of the project or of becoming direct partners, Coscino said.

``We're not wanting to create ill will with these people. We need to raise the money now,'' Coscino said.

The combination of golf courses and upscale homes is on 411 acres of chaparral and oak-filled canyons east of Sand Canyon Road and south of Comet Way.