Midtown Settles 2nd Injunction Over $250M Aruba Hotel

Law360, New York (November 16, 2012, 8:25 PM EST) -- Midtown Acquisitions LLP on Friday settled an injunction motion lodged in New York state court by loan holders of a $250 million Aruban resort after being ordered in a separate suit to stall the sale of a junior note's collateral because of a loan default.

Details of the stipulation were not immediately available, but counsel for Midtown and Aruba Hotel Members LLC, a joint venture of junior loan holders led by Five Mile Capital Partners LLC, told Law360 that the deal settles just the injunction motion, not the suit itself, in which Aruba Hotel and AMR Ventures II LLC, the plaintiff...

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