Lender Files Counter Claim on Executive Inn Foreclosure
Paducah, KY – Executive Inn mortgage holder, Logan Asset Managed Fund, filed a cross-claim in a foreclosure lawsuit yesterday seeking full payment, all interest, and insurance premiums. The Florida-based investment company loaned hotel owner Bhupinder Singh $3.5 million in 2007 to finalize the purchase of the hotel. The Paducah Sun reports the loan is now in default and interest grows $2,400 a day. The Paducah-McCracken County Convention Center Corporation filed a competing claim earlier this month.