L&T Defends Hotel Owners Against Foreclosure and Personal Liability

Lillig & Thorsness, Ltd. attorneys Greg Smith, Adrian Mendoza and Ed Sherman were called in to represent a hotel owner against foreclosure proceedings and the owner’s principals in connection with claims of liability for millions of dollars under the personal guarantees they had signed.   The hotel’s lender initiated the foreclosure lawsuit due to the hotel’s financial underperformance and inability to refinance its debt.   Adrian Mendoza and Ed Sherman were able to disqualify the lender’s first team of attorneys and forestall the appointment of a receiver during a critical time period that allowed Greg Smith to negotiate a resolution with the lender that released the principals from their guarantees and allowed them to keep the majority of their pledged collateral.

Lillig & Thorsness, Ltd. is a general practice firm providing legal representation in business transactions, estate planning and administration, litigation, family law and commercial real estate.

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