Jameson Inns Units Win Access To Lender's Cash Collateral

Law360, Wilmington (November 1, 2011, 9:58 PM EDT) -- A Delaware bankruptcy judge cleared several Jameson Inns Inc. units to use their mortgage lender’s cash collateral on Tuesday, handing them a short-term lifeline to fund the hotel chain’s operations as they defend against a real estate private equity firm's bid to toss the case.

JER/Jameson Mezz Borrower II LLC filed for court protection on Oct. 18 to stave off foreclosure from Colony Capital LLC, which loaned $40 million to the Jameson affiliate.

Colony quickly moved to dismiss the case, saying the filing was improper since...
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