HTN: Statler Owner Forced Into Bankruptcy

The corporation that owns the Statler Towers, headed up by British investor Bashar Issa, has been placed into an involuntary Chapter 11 bankruptcy. David Pfalzgraf, attorney for Park Lane Catering, says that it will allow his client and other tenants to keep operating without interruption. BSC Development owed utility companies more than $200,000, and tenants faced a possible shut off of their gas and electric service.