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Sovereign Wealth Funds Briefing - Categorized | Financials

Highland Hospitality could file for bankruptcy

Posted on 19 August 2010

From WSJ: Highland Hospitality could file for bankruptcy as economic woes squeeze the hotel industry. Highland Hospitality is in talks with Abu Dhabi Investment Authority and other possible investors about an infusion worth at least $200 million to possibly buy the company.
Financial woes at the 27-hotel chain, with holdings scattered from the Ritz-Carlton in downtown Atlanta to the Hilton Boston Back Bay, already have sparked maneuvering for control of Highland between JER Partners, Mr. Robert’s private-equity firm, and some of the creditors that include Wells Fargo & Co., Barclays PLC, Prudential Financial Inc. and Ashford Hospitality Trust……………………………………….Full Article: Source


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