River Road's Efforts To Block Credit Bidding Denied

Law360, New York (October 6, 2010, 6:58 PM EDT) -- The judge overseeing River Road Hotel Partners LLC's Chapter 11 proceedings has rejected the debtor's attempt to win approval of procedures for the proposed sale of its assets that would have precluded secured creditors from submitting credit bids.

Judge Bruce Black of the U.S. Bankruptcy Court for the Northern District of Illinois signed off on an order denying the debtor's bid procedures motion Tuesday.

The proposed sale would involve stalking horse O'Hare River & Technology Hotel LLC shelling out around $42 million in cash for substantially...
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