Chapman Takes Victory Lap on Sunterra

Chapman Capital, an 8.4% holder of Sunterra Corporation (OTC: SNRR), said they support the sale of the company for $16 per share to Diamond Resorts LLC.

On June 28, 2006, Chapman Capital filed a 13D demanding that the Company explore the full scale auction of the Company in its entirety.

Daniel Loeb's Third Point LLC was other hedge fund calling for a sale of Sunterra. Loeb has not disclosed his position on the sale news.

As noted earlier, Chapman Capital has set its sights on Embarcadero Technologies (Nasdaq: EMBT), now calling for a sale of that company.