NEW YORK CITY-LNR Partners Inc. has filed papers requesting a bankruptcy judge to stop a plan that would transfer ownership of the W New York-Union Square to Host Hotels & Resorts Inc.
LNR Partners is the special servicer for the hotel's $115 million mortgage. The mortgage debt holders that LNR represents are not in favor of the plan because it adversely affects the senior mortgage loan. The U.S. Bankruptcy Court will examine the plan at a hearing on Friday. For the full story, go to Wall Street Journal.
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