US Bank Sues Hotel Developers Over $188M Loan

Law360, New York (January 19, 2012, 12:12 PM EST) -- U.S. Bank NA sued seven affiliates of hotel management company Windsor Capital Group Inc. in New York on Thursday for defaulting on a $188 million property hotel development loan that had been securitized into a trust managed by the bank.

The loan is to improve Embassy Suites hotels in Washington state, Colorado, Ohio, Michigan, Oregon and Texas, each of which is in danger of losing the rights to the brand because they cannot afford necessary improvements, according to the suit.

U.S. Bank wants a receiver to...
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