W Hotel Owners' Liquidation Plan Confirmed

Law360, New York (August 27, 2010, 6:33 PM EDT) -- Hotels Union Square Mezz 1 LLC and Hotels Union Square Mezz 2 won confirmation of their combined Chapter 11 liquidation plan Friday, clearing the way for Host Hotels & Resorts Inc. to assume ownership of the W Hotel in Manhattan.

Judge Kevin Carey signed off on the disclosure statement and the liquidation plan in a joint proceeding in the U.S. Bankruptcy Court for the District of Delaware after LNR Partners Inc., the special servicer for the $115 million first mortgage on the property, withdrew its objection...
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