Tuesday, October 26, 2010

Pittsburgh "Hilton" owner accused of 'incompetence'

A New York lender filed an emergency motion Monday for the appointment of a trustee to oversee operations at the former Hilton Pittsburgh, accusing the hotel owner of "gross mismanagement, incompetence and deceitfulness."
In its 35-page motion, BlackRock Financial Management Inc. claimed that Shubh Hotels Pittsburgh used hotel funds to "pay insiders and non-corporate expenses" and that Dr. Kiran C. Patel, the Tampa cardiologist seeking to take over the property, is "inextricably intertwined" with Shubh and its management.

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