The Seventh Circuit Court of Appeals affirmed a decision of Judge Bruce Black of the United States Bankruptcy Court for the Northern District of Illinois in the In re River Road Hotel Partners, LLC et al. chapter 11 cases. The decision which was the subject of the appeal denied approval of the debtors’ proposed bid procedures for a sale of substantially all of their assets, which are comprised primarily of the InterContinental Hotel Chicago O’Hare located in Rosemont, Illinois (a suburb of Chicago close to O’Hare International Airport).
The decision also applies to the denial of substantially similar bidding procedures proposed in the bankruptcy cases of In re RadLAX Gateway Hotel, LLC et al. Those debtors own the Radisson Hotel at Los Angeles International Airport.
The cases are: River Road Hotel Partners, LLC; River Road Expansion Partners, LLC; RadLAX Gateway Hotel, LLC; and RadLAX Gateway Deck, LLC vs. Amalgamated Bank (Case Nos. 10-3597 & 10-3598)