A set of partners that own Bishop's Lodge, a luxury resort in Santa Fe, has filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court in Delaware.
But managing member Richard Holland viewed the reorganization plan differently. “We did not need to file for bankruptcy,” Holland said in an interview with Santa Fe New Mexican.
Bishop's Lodge is the first luxury resort in Santa Fe offering state-of-the-art accommodation, dining, wellness, and outdoor activities. Established in the 1860s, the city's first archbishop constructed a chapel and lodge on the same land.
Bishop's Lodge defaults on $43 million loan
One of the resort's lenders filed a complaint against the owner, Holland, for an unsettled $43 million loan. The complaint stated: “barring and forever foreclosin...