01-07-2025
California Rental Empire Faces Liquidation Risk in Court Fight
A portfolio of valuable California properties, including a hotel in the exclusive enclave of Laguna Beach, may be forced into liquidation at fire-sale prices because of a bitter court fight between the owners.
Some of the properties were once valued at a collective $360 million and sales of these assets should cover debt put on them over the years, according to court filings. But a court-supervised sale process has fallen apart because of a fight for control of the company that manages the real estate.
