Bankruptcy judge OKs sale right transfer for hotel

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By The Associated Press

Story Published: Nov 18, 2009 at 9:36 AM MST

Story Updated: Nov 18, 2009 at 9:36 AM MST

CHEYENNE, WYOMING - A federal judge says a potential buyer of a bankrupt Cheyenne hotel can transfer the rights to purchase the property to a different company.

HCW Hospitality got federal approval to buy the Ramada Hitching Post Inn for $3.7 million in August. The hotel filed for Chapter 11 bankruptcy in February.

On Monday, a federal bankruptcy judge in New Jersey said HCW Hospitality can transfer the purchase rights to CJM Hospitality, and said CJM hospitality can use $325,000 in nonrefundable deposits to make repairs to the hotel so the business can be reopened.

City officials closed the hotel in September, citing safety concerns and code violations.

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