The Seventh Circuit Court of Appeals affirmed a decision of Judge Bruce Black of the United States Bankruptcy Court for the Northern District of Illinois in the In re River Road Hotel Partners, LLC et al. chapter 11 cases. The decision which was the subject of the appeal denied approval of the debtors’ proposed bid procedures for a sale of substantially all of their assets, which are comprised primarily of the InterContinental Hotel Chicago O’Hare located in Rosemont, Illinois (a suburb of Chicago close to O’Hare International Airport).
The decision also applies to the denial of substantially similar bidding procedures proposed in the bankruptcy cases of In re RadLAX Gateway Hotel, LLC et al. Those debtors own the Radisson Hotel at Los Angeles International Airport.
The cases are: River Road Hotel Partners, LLC; River Road Expansion Partners, LLC; RadLAX Gateway Hotel, LLC; and RadLAX Gateway Deck, LLC vs. Amalgamated Bank (Case Nos. 10-3597 & 10-3598)
Opinion Affirming Denial of Bidding Procedures that Precluded Secured Lenders from Submitting Credit Bid at…
Similar Posts:
- Read the 11th Circuit’s Opinion Affirming the Denial of a Motion to Amend Bankruptcy Claims Post-Confirmation from the Winn-Dixie Stores Bankruptcy Cases
- Signature Styles (Spiegel, Newport News & Shape Fx Brands) Creditors’ Committee Challenges Company’s Decision Not to Honor Gift Cards & Merchandise Credits Owing to Customers, Asks Court to Allow Committee to Assume Active Role in Sale Process
- HearUSA, Inc. (AMEX: EAR) Files for Chapter 11 Protection With Agreement to Sell Assets
- HearUSA Receives Competing Bid From an Affiliate of Siemens for Substantially All of its Assets
- CNBC: Mergers & Acquisitions Discussion With Joseph Perella, Terry Meguid & Peter Weinberg
Recent Comments