Embassy Suites Operators Check Into Ch. 11

Law360, New York (August 1, 2012, 6:11 PM EDT) -- A property management company and seven of its affiliates that own and operate Embassy Suites franchises throughout the U.S. filed for bankruptcy in California federal court on Tuesday, two months after they were placed into receivership after defaulting on a $187 million loan.

California-based Nesbitt Portland Property LLC, which manages an Embassy Suites in Tigard, Ore., filed for Chapter 11, listing $10 million to $50 million in assets and $100 million to $500 million in liabilities, according to a voluntary petition. In separate filings, seven other...
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