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Bankruptcy Reorganization Chapter 11

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May 30, 2011

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 fstorms@nationwideresearch.com to receive a daily list of new chapter 11 filings in the lodging or any other industry. 

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