Motels of America - Chapter 11
2003
Representation of the operator of approximately 100 budget motel properties that were forced to file for Chapter 11 after the lead lender declared a default on $130 million mortgage loan. Successfully stabilized company operations in Chapter 11, commenced litigation against the lender in bankruptcy court, which led to the consensual refinancing of the debtor's operations with a new lender and payment in full to all creditors. Negotiated and documented new $130 million exit financing facility. (Prior firm experience)
2003
Representation of the operator of approximately 100 budget motel properties that were forced to file for Chapter 11 after the lead lender declared a default on $130 million mortgage loan. Successfully stabilized company operations in Chapter 11, commenced litigation against the lender in bankruptcy court, which led to the consensual refinancing of the debtor's operations with a new lender and payment in full to all creditors. Negotiated and documented new $130 million exit financing facility. (Prior firm experience)
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