CHICAGO-A US Bankruptcy Court judge has ruled in favor of thelenders of the 556-room InterContinental Chicago O'Hare Hotelcausing a setback for the hotels' developer and owner.
The ruling allows lenders, the US Bank NA and the AmalgamatedBank to file their own restructuring plan for the hotel by the endof September 2010. Prior to the judgment, the hotel's owner anddeveloper had selected the Och-Ziff group to buy the hotel for mere$42 million during the auction. For the full story, go toCrain's Chicago Business.
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