Embassy Suites Group Asks 2nd Circ. Not To Appoint Receiver

Law360, New York (June 26, 2012, 8:19 PM EDT) -- A group of Embassy Suites hotels asked the Second Circuit on Tuesday to halt the appointment of a receiver to run their affairs following their default on a $188 million loan from U.S. Bank NA, arguing third-party control is not necessary.

A receiver will do nothing to revive the Windsor Capital Group Inc.-managed hotels' ailing fortunes, their lawyer said in an emergency motion hearing before a three-judge panel.

A federal judge ordered the hotels, located in Washington, Colorado, Ohio, Michigan, Oregon and Texas, into receivership May...
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