InterContinental Chicago O'Hare Set For Auction Block

Law360, New York (June 7, 2010, 5:33 PM EDT) -- The bankrupt InterContinental Chicago O'Hare hotel and certain related assets will be sold to the highest bidder, with at least $42 million of the proceeds funding debtors' estates in the River Road Hotel Partners LLC bankruptcy cases, according to a newly filed plan of reorganization.

The plan, lodged Friday in the U.S. Bankruptcy Court for the Northern District of Illinois, covers the 556-room luxury hotel in Rosemont, Ill., a meeting space expansion and other assets.

A hearing is set for Wednesday on the debtors' bid for...
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