Hotel Operators Say PPP Shouldn't Jeopardize Old Loans
May 4 2020 - Law360
Operators of hotels in several states have asked New York and Florida federal courts to rule that they can participate in the Paycheck Protection Program without fear of triggering a default on prior loans whose terms forbid taking on more debt.
In a pair of complaints filed separately Friday against U.S. Bank NA and Wilmington Trust NA, the hotel operators said they're desperate for the aid but are concerned about possible repercussions for their existing loans, which are held in...
In a pair of complaints filed separately Friday against U.S. Bank NA and Wilmington Trust NA, the hotel operators said they're desperate for the aid but are concerned about possible repercussions for their existing loans, which are held in...