Westin Owner's Ch. 11 Plan Would Inject $30M In Hotels

Law360, New York (August 1, 2011, 7:38 PM EDT) -- Transwest Resort Properties Inc., the owner of two bankrupt Westin hotels, filed a Chapter 11 plan Friday that calls for the restructuring of its mortgage loan and the investment of $30 million of new capital in the debtor.

The reorganization plan also includes a multiyear property improvements plan that would see $33 million put into refurbishing Westin Hilton Head Island Resort in South Carolina and Westin La Paloma Resort and Country Club in Tucson, Ariz.

“The plan will implement a comprehensive reorganization of the debtors and...
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