Colony Capital Battles Debtor Jameson Inns' Bankruptcy

Law360, Wilmington (December 6, 2011, 5:39 PM EST) -- Colony Capital LLC urged a Delaware bankruptcy judge on Tuesday to dismiss the Chapter 11 case of a Jameson Inns unit that owes the private equity firm $40 million, alleging the filing was a ploy made in bad faith to avoid foreclosure.

JER/Jameson Mezz Borrower II LLC filed for bankruptcy Oct. 18 after Santa Monica, Calif.-based Colony — one of five lenders who helped finance the buyout of the 100-hotel chain in 2006 with $335 million in loans — began a foreclosure auction for the Jameson...
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