Bankrupt Hotel Developer Must Face Bid For $15M Payout

Law360 (February 8, 2018, 7:38 PM EST) -- A group of investors in an Iowa hotel franchise can continue to pursue roughly $15 million in fraud judgments against a former business partner who they claim hid millions of dollars in assets and filed for bankruptcy to avoid paying up, a Minnesota federal judge ruled Wednesday.

U.S. District Judge Susan Richard Nelson denied a bid by bankrupt real estate developer John F. Seibert and his firm JFS Development Inc. to toss investment group Cedar Rapids Lodge & Suites LLC’s suit to recover four judgments in...
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