Article: Albany, N.Y., Hotel Property Owes Bank More than $2 Million, Court Papers Say.

By Kevin Harlin, Times Union, Albany, N.Y. Knight Ridder/Tribune Business News

Nov. 7--KeyBank N.A. has begun foreclosure proceedings on the Howard Johnson hotel on Southern Boulevard.

U.S. Bankruptcy Court Judge Robert E. Littlefield Jr. lifted the hotel's Chapter 11 protection from creditors last month, clearing the way for KeyBank to bring the foreclosure in state Supreme Court in Albany County.

The bank is owed more than $2 million as the mortgage holder, court papers show.

Last week, a Supreme Court judge appointed a receiver to manage the hotel and its assets, said Justin A. Heller, attorney for KeyBank with the Albany law ...

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