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Expert Analysis

5 Key Contractual Provisions To Prevent A 'Midnight Raid'

Law360, New York (January 2, 2015, 9:48 AM EST) -- At approximately 2 a.m. on Saturday, March 31, 2012, the hotel management company responsible for creating and operating the luxurious Setai Hotel on Miami Beach was forcibly removed from the property by a cadre of private security forces hired by the hotel's owner, a subsidiary of Lehman Brothers Holdings. Known within the hospitality industry as a "midnight raid," the practice of disregarding contractual termination provisions and literally ousting an unwanted operator in the middle of the night is gaining popularity among hotel owners looking to quickly shed their operator and sell their hotel for top dollar....

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