Goldman Sachs Mortgage Co., which had lent RQB Resort LP$193 million to help buy the Sawgrass Marriott Resort & Cabana Club in Florida, is now urging a bankruptcy judge to let it foreclose on the property.
The mortgage arm of Goldman Sachs Group Inc. said in court papers that RQB now owes it more than $196 million—an amount the lender claims is more than the property is worth.
Although the company's current cash flow may be enough to meet its current operational needs, the lender said RQB has failed to show how it will meet its debt obligations to Goldman Sachs
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