2nd Jameson Inns Unit With Colony Debt Seeks Ch. 11

Law360, New York (October 26, 2011, 3:55 PM EDT) -- A second affiliate of budget hotel operator Jameson Inns Inc. filed for bankruptcy protection in Delaware on Tuesday, leaving private equity firm Colony Capital LLC with a combined $80 million in investments under court protection.

JER/Jameson Mezz Borrower I LLC, a mezzanine borrower that is part of Jameson Inns' financing structure, holds $40 million of Colony debt, according to an Oct. 19 filing by the manager of a separate Jameson Inns unit. The bankruptcy petition filed Tuesday said the mezzanine borrower had estimated liabilities of $10 million to $50 million, with no...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.