Maui Resort Filing for Bankruptcy
Posted on Mar 26, 2011 9:15pm PDT
The Grand Wailea Resort Hotel and Sp in Hawaii is reportedly filing for bankruptcy. Along with four other resorts, the filing occurred after lenders seized them from Morgan Stanley's real estate funds. The five resorts in total have reportedly listed assets at $2.2 billion and debts at $1.9 billion. The resorts reportedly filed for Chapter 11 in order to restructure.
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