Fort Lauderdale Hotel Filing for Bankruptcy

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Fort Lauderdale Hotel Filing for Bankruptcy

Updated August 16, 2018, 10:00 a.m.

Tanned bodies. Miles of sand and beach and endless amount of bars serving cold drinks and…. bankruptcy.

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550 Seabreeze Development LLC, has filed for Chapter 11 bankruptcy. The construction manager had previously filed suit against the hotel for alleging not making payments to contractors and a foreclosure action was filed by Bancorp. in January for failing to pay on the $3.6 million mortgage.

Funding came in part from the controversial EB-5 visa program where investors can gain a path to permanent residency with an investment of $500,000.

Alexander Hernandez, Esq.

Prior blogs on bankruptcy can be found here.

Follow Alexander on Twitter @mcatty_alex

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