ST. LOUIS-Steven and Michael Roberts, the brothers who head thediversified St. Louis-based Roberts Cos., have reached a contractto sell six hotels to settle a $34-million litigation filed by Bankof America. The brothers were sued by the bank in April afterdefaulting on a $43-million loan delivered in 2007.
The Roberts brothers will sell their hotels located in Atlanta;Houston; Dallas; Spartanburg, South Carolina; Shreveport,Louisiana; and Tampa, Florida. Proceeds from the sale will be usedto pay off Bank of America. For the full story, go to St. Louis Business Journal .
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