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Owners of former Pittsburgh Hilton files reorganization plan

| Thursday, Oct. 7, 2010

Owners of the former Pittsburgh Hilton Hotel filed a bankruptcy reorganization plan Wednesday that would pay $8 million to creditors and provide another $4 million to finish a long-stalled expansion and other interior and exterior work at the Downtown hotel. Pittsburgh Grand LLC, an affiliate of hotel investor Dr. Kiran Patel, would loan the money, documents filed with U.S. Bankruptcy Court indicate. Shubh Hotels Pittsburgh LLC, which bought the hotel in 2006, is in Chapter 11 protection from creditors and wants to turn the hotel into a Wyndham Grand Pittsburgh under Patel's ownership. Judge Jeffery Deller is to consider today whether to approve a Wyndham franchise; BlackRock Financial Management Inc. wants the court to appoint a receiver, which could restore the Hilton franchise terminated Sept. 2.

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