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Wed December 2, 2009
Still No Executive Inn Agreement
By Chris Taylor
Paducah, KY – With a December 18 settlement deadline looming, Logan Asset Backed Fund and Paducah's Executive Inn owner Bhupinder Singh still have not yet reached an agreement over the hotel's $3.5 million mortgage foreclosure.
Logan's attorney Todd Farmer tells the Paducah Sun an agreement doesn't look likely at this point. The two parties have been negotiating for months to settle issues that have left the hotel and convention center empty for most of the year.
Logan wants to gain control of the hotel without a lengthy court battle, but Singh would have to request a lease transfer from landowner Paducah-McCracken County Convention Center Corporation board. The board meets tomorrow and would consider a transfer, but Singh has not made any such request.