San Juan, PR-based, Swiss Chalet, Inc. Files For Chapter 11

Lodging companies in Puerto Rico continue to struggle.

Swiss Chalet, Inc. filed for Chapter 11 on Friday at the United States Bankruptcy Court for the District of Puerto Rico.  The hotel and real estate company's petition lists approximately $118.5 million in assets and $132.7 million in liabilities.

The petition lists the largest creditor as CPG/GS PR NPL, LLC of San Juan with an approximate $118 million disputed loan claim ($47.4 million unsecured).   CPG/GS PR NPL, LLC is a joint venture created by Goldman Sachs and Caribbean Property Group. 

Contact Fowler at [email protected] to receive a daily list of new chapter 11 filings in the lodging or any other industry. 

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SIGG Switzerland (USA), Inc. Files For Chapter 11

Debtor Name:  SIGG Switzerland (USA), Inc. Year Filed:  2011 Jurisdiction:  United States Bankruptcy Court / CT Asset Size:  Less than 10,000,000 Case Number:  11-51024 Industry:  Manufacturing

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Whiteland Village, LTD Files For chapter 11

Debtor Name:  Whiteland Village, LTD Year Filed:  2011 Jurisdiction:  United States Bankruptcy Court / ED of PA Asset Size:  Less than 10,000,000 Case Number:  11-14036 Industry:  Real Estate, Health

The petition lists approximately $57 million in liabilities including a disputed $32 million claim of Sovereign Bank ($4 million secured).  Additionally, Roskamp Management Company, LLC is listed as an unsecured creditor with an approximate $19.4 million claim.

Sign up for our Chapter 11 creditor alert service now.  Contact Fowler at [email protected] for 415-773-1230 for details.

 

WESTERN HOST ASSOCIATES, INC Files For Chapter 11

Debtor Name:  WESTERN HOST ASSOCIATES, INC Year Filed:  2011 Jurisdiction:  United States Bankruptcy Court / Puerto Rico Asset Size:  Less than 10,000,000 Case Number:  11-04152 Industry:  Lodging

DBA  PLAZA DE ARMAS HOTEL

The petition lists Banco Popular as the largest creditor with an approximate $5.5 million claim ($1.29 unsecured)

Sign up for our lodging chapter 11 notification service now!  Contact Ken at [email protected] for details.