US Bank Can't Block Sale Of 42 Hotels Backing $165M Loan

Law360, New York (October 16, 2012, 3:28 PM EDT) -- LH Hospitality LLC, an affiliate of global hotel investor Westmont Hospitality Group, can move forward with the sale of 42 hotels securing a defaulted $165 million loan from U.S. Bank NA after a New York state judge ruled Tuesday that LH doesn't first have to cure the loan.

In a ruling from the bench, Judge Charles E. Ramos rejected U.S. Bank's motion to enjoin LH Hospitality's planned Thursday sale of the mortgage borrower, an entity known as LH 2007 Properties LLC, transferring control of the equity...
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