[Deptheads] Radisson hotel at LAX files for bankruptcy

[Victor B]

The Harp group filed chapter 11 for it's chicago o'hare airport hotel and the LAX radisson hotel on monday.

Two additional ventures related to a Harp hotel in Los Angeles, the Radisson Hotel at Los Angeles International Airport, also filed for Chapter 11 bankruptcy protection Monday. The two entities listed assets of $50 million to $100 million vs. liabilities of $100 million to $500 million, according to the filings. 
 
Chicago-based Blue Vista Capital Partners LLC is an investor in that hotel, which Harp bought in 2007 and has since remodeled and begun construction on a new parking deck that is now stalled. San Diego National and Amalgamated were also the lenders in that project. We all know about the renovations and parking. We suffered thru them for strategicons.
 
They owe lots of money from more than 1 airport hotel.
They will remain open during the bankruptcy precedings.
They bought theselves time by filing.
Gateway will not be effected. Orccon will be pending the bankruptcy hearing.
 
Vic
 

--- On Thu, 8/20/09, Eric Burgess <erburgess at gmail.com> wrote:


From: Eric Burgess <erburgess at gmail.com>
Subject: [Deptheads] Radisson hotel at LAX files for bankruptcy
To: Deptheads at strategicon.net
Date: Thursday, August 20, 2009, 4:11 PM



Everyone see this? It was already mentioned on the Board Games Yahoo groups. I will comment there but please tell me first if the convention will be affected. I know a lot of times this is just something done to hold off creditors.
 
Here's the article: http://www.latimes.com/business/la-fi-briefs18-2009aug18,0,4327562.story?track=rss
 
Also - do we have any information we can share about the state of things like the elevators and other renovations?

...ERB
www.boardgamebabylon.com 
www.strategicon.net


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