MCLEAN, VA-A realty investment firm is investigating a Chapter 11 bankruptcy filing by major hotel company, Highland Hospitality Corp., which failed to repay around $868 million in junior debt due earlier this month.
The creditors of the 27-hotel chain, which include private-equity firm, JER Partners, Barclays PLC, Ashford Hospitality Trust, Wells Fargo & Co. and Prudential Financial Inc. as well as Blackstone Group LP, are all vying for control of Highland. For the full story, go to Wall Street Journal.
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