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In a rare hospitality dispute over terrorism insurance thats quietly been brewing since September, Trammell Crow family members who own the Wyndham Anatole Hotel in Dallas are battling their lenders in court.
The lawsuit filed in state district court in Dallas County protests a loan servicer's efforts to force the hotel owners to purchase a $716,000 annual policy for their hotel.
The suit was filed by Anatole Partners II on Sept 18 against lender Connecticut General life Insurance Co.; the trustee for the property's deed of trust Jonathan L. Hooper, and the loan servicer, Midland Loan Services.
Since the original filing, LaSalle Bank National Association, which bought the loan, and GMAC Commercial Mortgage, which also services the loan, have been added as defendants.
Attorneys for the hotel did not return calls for comment, and Midland's attorneys declined to talk about the case.
Unique situation
Although some hotel experts say the quandary over terrorism insurance isn't limited...