Wednesday, November 18, 2009

Four Seasons owner misses payment, could default, lawyer says

Four Seasons Resort and Club Dallas at Las Colinas is operating in the red, and its owner could default on a $175 million loan, the owner's attorney said late Monday.

Lawyer Stephen Meister said Los Angeles-based BentleyForbes missed a scheduled payment in October to mortgage holder CW Capital, which has been cool to the company's plan to pump additional funds "in the range of $10 million" into the exclusive resort.

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