David Fleischer and Sarah Jacobson in Law360: Midtown Settles 2nd Injunction Over $250M Aruba Hotel

11/19/2012

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 in a related case, contend that Midtown is wrongly rushing a UCC sale of collateral of AMR's defaulted loan in order to take control of the Marriott-branded hotel, according to court documents...

Aruba is represented by David Fleischer and Sarah Jacobson of Haynes and Boone, LLP.

Excerpted from Law360, November 19, 2012. To view full article, click here (subscription required).

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