US Bank Asks Court To Stop Auction Of Hawaii Hotel

Law360, New York (January 11, 2012, 6:18 PM EST) -- Petra Capital Management LLC and Deutsche Bank AG affiliates can't auction off a Honolulu hotel until U.S. Bank NA is paid back for a $70 million senior loan on the property, U.S. Bank told a New York state court Tuesday.

Petra, through a junior $34.9 million loan, is trying to sidestep its junior status and force a foreclosure auction of the hotel before the bank receives payment for the entire $70 million senior loan as part of an intercreditor agreement between it and Petra, U.S. Bank...
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