A bankruptcy judge has approved the $39.1 million sale of an incomplete Fort Lauderdale hotel where Chinese investors claim they were victims of fraud under the federal EB-5 visa program.

MHF Properties VI LLC, an affiliate of Warwick, Rhode Island-based Magna Hospitality Group, submitted an initial stalking horse bid of $38.6 million and increased the value to the eventual purchase price in a would-be auction that attracted no other bids Aug. 15.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]