BPP Rips Citizens Bank's Objections To Ch. 11 Plan

Law360, New York (September 22, 2011, 6:35 PM EDT) -- Bankrupt hotel operator BPP LLC blasted objections to its reorganization plan Thursday, saying Citizens Bank of Pennsylvania based its protests on a questionable expert with an agenda.

Citizens, which holds a $66 million claim against BPP, was the only creditor to vote against the debtors' plan to sell off 22 hotels in Texas, Wisconsin, Michigan, Minnesota, Illinois and Iowa over a four-year period. The bank told a Texas bankruptcy court that it doubted the feasibility of the plan based on the evaluation of an unidentified expert...
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