BofA Sues La. Hotel Owners Over $35M Loan Default

Law360, New York (March 26, 2012, 12:01 PM EDT) -- Bank of America NA hit a Missouri-based hotel company with a $35 million lawsuit in Louisiana federal court Friday, alleging the company defaulted on a $43 million loan backed by a Shreveport, La., hotel property.

The banking giant claims Roberts Hotels Shreveport LLC, wholly owned and operated by Missouri residents Michael Roberts and Steven Roberts, failed to make a loan payment in February.

Under the terms of the 2007 loan agreement, BofA then accelerated Roberts Hotels' obligations and demanded the immediate payment of the entire outstanding...
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Case Title

Bank of America, N.A. v. Roberts Hotels Shreveport, LLC


Case Number

5:12-cv-00731

Court

Louisiana Western

Nature of Suit

Real Property: Foreclosure

Judge

S Maurice Hicks

Date Filed

March 23, 2012

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