In vestment group, CNL-AB, led by Paulson & Company has placed five resorts under bankruptcy, NASDAQ reports. The group, which also includes Winthrop Realty Trust and Capital Trust, has appointed Kirkland & Ellis as an advisor. The properties owe $1 billion to mortgage holders and $525 million to mezzanine lenders. Paulson is offering the properties a $30 million bankruptcy loan to ensure continuity of operations.
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