|Hilton Garden Inn sues Dillin and two of his firms|
|Written by PETER KUEBECK Sentinel Staff Writer|
|Tuesday, 23 July 2013 09:10|
PERRYSBURG - The owners of the Hilton Garden Inn at Levis Commons are suing developer Larry Dillin and two of his companies over what they say are multiple breaches of contract preventing them from refinancing a loan and purchasing the property on which the hotel sits.
The complaint in the civil matter was filed Friday, and a preliminary injunction hearing is scheduled before Wood County Court of Common Pleas Judge Alan R. Mayberry on Wednesday. The suit names Levis Town Square Land LLC, Dillin Corp., and Larry Dillin as defendants.
The hotel has been a fixture at Levis Commons since 2008 and employs approximately 100 people.
According to the complaint, Levis Commons Hotel LLC, which operates the Hilton Garden Inn and is in turn owned by GHG Perrysburg LLC, is seeking to refiance a loan which matured in August, 2012, and for which they have received extensions. "In the event that (Levis Commons Hotel) does not complete its refinancing on schedule, (they) potentially will be forced into bankruptcy or foreclosure," the complaint notes.
A loan application has already been executed by Levis Commons Hotel with a "nationally recognized lending institution," according to the filing.
Complicating the issue is that, under a current contract, Levis Commons Hotel, upon refinancing, would be able to purchase the property on which the facility sits for $1.
"Defendants, however, have and continue to breach their contractual obligations under the ground leases and related agreements," the complaint states, and are "causing... irreparable and immediate injury to Levis Hotel and others" by not allowing the company to complete its financing.
Levis Commons Hotel is seeking a series of three restraining orders and injunctions in the case that would require Dillin and his company to cooperate with the refinancing and permit the purchase of the property. Additionally, they are seeking compensatory damages in excess of $25,000, as well as court costs.
A telephone call placed Monday with Dillin's media representative seeking comment was not immediately returned.
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