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Tue December 8, 2009
Paducah Could Discuss Buying Big E'
By Chris Taylor
Paducah, KY – Paducah City Commissioners may discuss buying the Executive Inn from Logan Asset Backed Fund at tonight's meeting. According to the Paducah Sun, sources familiar with the case say if hotel owner Bhupinder Singh and mortgage holder Logan Asset can reach an agreement and transfer ownership, Logan may sell the hotel to the city for $1.8 million. Officials say the agreement would be key to settling the year-plus long legal battle and foreclosure claims on the Executive Inn's $3.5 million mortgage.