Baker Concrete seeks to dismiss Seaboard Hotel bankruptcy case

By Sheri Kasprzak

New York, June 20 – Baker Concrete Construction, Inc. entered a motion Monday to dismiss Seaboard Hotel LTS Associates, LLC’s bankruptcy case, said a filing with the U.S. Bankruptcy Court for the District of Delaware.

Seaboard Hotel filed for bankruptcy on Dec. 14, 2015 as part of holding company Seaboard Realty LLC’s bankruptcy proceedings.

The subsidiary’s only asset is a partially constructed Residence Inn hotel in Stamford, Conn., the motion states.

“Cause exists to dismiss SHA’s Chapter 11 case,” said the motion.

“The Residence Inn is SHA’s sole asset and has remained 50% complete since December 2015. Since commencing this case, SHA has made no efforts toward completing this project, which the Beilinson Declaration discloses will take approximately eight months, and has made no meaningful progress, at least which has been shared with creditors, toward definitively obtaining a construction loan which would allow the project to move forward. SHA also has no other assets or income which could be used to fund the completion of the project.”

A hearing on the motion will be set at a later time.

Seaboard Hotel is a subsidiary of Seaboard Realty, which owns office, hotel and residential properties throughout Stamford, Conn. The company filed for bankruptcy Dec. 14, 2015 under Chapter 11 case number 15-12507.

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