Hotel Wants Chance To Make Up Missed Mortgage Payment

Law360, New York (November 14, 2012, 9:33 PM EST) -- The owner of Miami Beach's bankrupt Sagamore Hotel on Wednesday endorsed the ruling of a Florida bankruptcy judge who ordered lender LNR Partners LLC to give the debtor a chance to make up a missed 2009 payment on the hotel's $31.5 million mortgage before foreclosing.

Sagamore Partners Ltd. lambasted LNR for asking U.S. Bankruptcy Judge A. Jay Cristol to reconsider his Nov. 8 decision to partially dismiss LNR's bid to be named a secured creditor on the struggling hotel's mortgage.

In a Wednesday filing, Sagamore challenged...
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