In an effort to exit Chapter 11 bankruptcy protection, Lehman Brothers has announced that they will be selling several investments including the Ritz-Carlton Kapalua hotel on Maui. After spending the last 3 1/2 years in bankruptcy court, Lehman stated that it can raise another $35 billion by selling additional assests. Funds received from the sale of these properties will go directly to Lehman’s creditors. The Ritz-Carlton Kapalua is expected to officially go on the market in April or May 2012.
Source: Honolulu Star Advertiser, 3-7-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
