NEW YORK CITY-Landlords Sunil Mir and Charles Morais, who had run into series of problems with government authorities as well as creditors, may lose JFK Plaza, a 183-room hotel at New York City. After a bankruptcy-court auction of the assets, a trustee recommended that the property has to be handed over to Neshgold LP, a creditor who holds a $16-million claim toward the property.
Messrs. Mir and Morais of Kronos Hotels LLC acquired the JFK hotel for nearly $11 million in 2006. For the full story, go to Wall Street Journal.
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