News & Analysis as of

Hotels Commercial Bankruptcy

Kramer Levin Naftalis & Frankel LLP

District Court Holds Non-Income Producing Hotel Is a Single Asset Real Estate Debtor

Recently, in Shady Bird Lending, LLC v. The Source Hotel, LLC (In re The Source Hotel, LLC), Case No. 8:21-cv-00824-FLA (C.D. Ca. June 8, 2022), the Central District of California District Court adopted the majority view that...more

Epiq

Where to Next? Travel and Bankruptcy Predictions Remain Foggy

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There is no argument that throughout the pandemic, travel has been one of the hardest hit industries. Domestic and international restrictions, capacity limitations, cancelled events, remote operations, illness, and fear...more

Hogan Lovells

Hotel contracts - Deferred or suspended rent due to Corona

Hogan Lovells on

Does the owner bear the risk in case of bankruptcy? Due to the tense situation in the hotel industry, various lessees are currently approaching their lessors asking for deferral or abatement of rent payments for the...more

White & Case LLP

Relaxation not an option for leisure and hospitality sectors

White & Case LLP on

The COVID-19 lockdown forced restaurants, hotels, gyms, theaters and casinos to shut their doors and put balance sheets under extreme strain, but some have tapped debt markets to see them through - The availability and...more

White and Williams LLP

Looming Hotel Bankruptcies Impact Loan Workouts

White and Williams LLP on

COVID-19 has been devastating for hotels and other businesses in the hospitality industry because of significant business closures and the elimination of recreational travel. Oxford Economics predicts 2.8 to 3.4 million jobs...more

Robins Kaplan LLP

Financial Daily Dose 1.6.2020 | Top Story: Oil Futures Jump as Concerns Deepen Over Mideast Volatility

Robins Kaplan LLP on

Oil jumped for a second straight day, with futures near $70/barrel as fallout from the U.S.’s drone-strike assassination of Iran’s Qassem Soleimani continues to raise “the prospect of disruptions in the world’s most important...more

Dechert LLP

US Bankruptcy Filing Limitations - How Far Can You Go?

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In order to file for bankruptcy, a corporate entity must be legally authorized to do so. Whether the bankruptcy petition has been duly authorized is governed by state law and often depends on the entity’s governance...more

Butler Snow LLP

Curing Default in Chapter 11 Bankruptcy May Require Debtors to Pay Default Interest to Secured Creditors.

Butler Snow LLP on

The Ninth Circuit Court of Appeals recently took up the issue of a Chapter 11 Debtor’s requirements to cure a loan default through its Chapter 11 plan. The result was a ruling that overturned previous law that entitled...more

Blank Rome LLP

River Road: A Cautionary Tale for Chapter 11 Financial Advisors

Blank Rome LLP on

The United States Bankruptcy Court for the Northern District of Illinois recently handed down an opinion, In re River Road Hotel Partners LLC, 2014 WL 5488259 (Bankr. N.D. Ill. 2014), dealing with the issue of a financial...more

Pullman & Comley, LLC

Bankruptcy Beat : Choice of Law & Liquidated Damages Analyses Result in Significant Reduction of Creditor’s Claim

Pullman & Comley, LLC on

In the context of an objection to claim proceeding, the Bankruptcy Court (Dabrowski, J.) engaged in choice of law and liquidated damages analyses and as a result disallowed approximately a million dollars of Best Western’s...more

Davis Wright Tremaine LLP

1st Circuit Limits Secured Lender’s Right to Post-Petition Interest by Applying Flexible Standard

In an important decision for lenders, the 1st Circuit Court of Appeals recently decided In re SW Boston Hotel Venture LLC, holding that a bankruptcy court was right to give a lender a claim for post-petition interest...more

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