Miami Hotel Hits Chapter 11 To Duck 'Aggressive' Foreclosure

By Rick Archer (July 22, 2021, 7:16 PM EDT) -- A downtown Miami hotel has filed for Chapter 11 protection in a Florida bankruptcy court in an attempt to escape what it claims is a loan servicer's "aggressive" foreclosure attempt on its $17 million mortgage.

In a declaration filed Wednesday, Pedro Villar, manager of the Aloft Miami Brickell hotel, which is owned by Mary Brickell Village Hotel LLC, claimed the hotel's mortgage servicers deliberately failed to engage with its attempts to negotiate a plan to deal with the hotel's loss of income due to the COVID-19 pandemic in order to seize the property.

"The debtor is seeking relief from this court...

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