KSLA News 12 Shreveport, Louisiana |Bank has claim on bankrupt Fulton hotel
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Associated Press - January 31, 2010 5:34 PM ET
ALEXANDRIA, La. (AP) - Alexandria Mayor Jacques Roy says the city still faces a serious hurdle to sealing a deal to run the city's convention center and two hotels connected to it.
It has to settle a dispute with Capital One Bank over claims for the hotel rooms at the Alexander Fulton Hotel.
The city owns the land, the restaurant, parking and meeting rooms in an attached builting - but not the hotel tower.
However, Roy says Capital One's claim defaulted when the city terminated the previous owners' lease, after the NR Group declared bankruptcy in November 2008.
Capital One claims the city made certain promises but didn't follow through with them.
The mayor says he thinks the city would win in court, but he's willing to settle to get things done quickly.
Information from: Alexandria Daily Town Talk, http://www.thetowntalk.com
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