Lender Says Hotel Co. CEO Lied to Avoid $80M Default

Law360, New York (April 27, 2012, 3:12 PM EDT) -- A successor to Barclays Capital Real Estate Inc. on Thursday sued a U.S. hotel management and development company in New York state court over allegations that it made false statements in financial documents concerning an $80 million loan to build an Arkansas convention center.

Rogers Funding LLC alleges that Jacqueline A. Dowdy, CEO of John Q. Hammons Hotels & Resorts, signed off on a financial statement in May that “grossly inflated” the tangible net worth of the company by $1 billion, in order to avoid default...
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