Recently, Shubh Hotels Pittsburgh, LLC filed for bankruptcy protection.  The company is the owner of Pittsburgh's largest hotel and its filing occurred days after Hilton Hotels Corp. terminated its franchise license agreement.

In its recent bankruptcy filing, the company listed assets of over $50 million and that of $100 million.  Shubh Hotels Pittsburgh filed Chapter 11 documents in the U.S. Bankruptcy Court in Pittsburgh.

According to news reports, Hilton Hotels terminated a 20 year franchise agreements and also pulled its name from the hotel just last week.  Shubh bought the 713 room hotel in downtown Pittsburgh back in 2006 for $28 million. 

One of the largest creditors of Shubh is claiming funds are owed in the total amount of $27.4 million.  BlackRock Financial Management Inc. states it is owed $20 million in unsecured debt and Hilton Hotels asserts that it is owed $4.2 million.

Are you planning to file forbankruptcy in South Texas?  Contact the Malaise Law Firm and speak with a South Texas bankruptcy lawyer.