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FEB 15, 2013 - Washington Business Journal

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Brazilian Court Hotel takes out loans days after foreclosure filed

Just three days after it was hit with a foreclosure lawsuit, the operator of the Brazilian Court Hotel & Beach Club on Palm Beach took out a second mortgage from another lender. On Feb. 5, Bank of New York Mellon (NYSE: BK) affiliate MUNB Loan Holdings filed an $18.4 million foreclosure lawsuit against CSC Brazilian and BC 201 LLC over 35 condo-hotel units and 4,671 square feet of commercial space in the hotel, at 300 and 301 Australian Ave. The lawsuit named the principals of West Palm Beach-based…

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