Is Denver’s hotshot restaurant defalcated?
As people sit and enjoy Mexican burrito and fish sushi in one of the uptown hotels of Broadway, Denver, little they know that the food might just disappear too soon. Jesse Morreale has filed for bankruptcy protection as two of his hotels are in the danger of being foreclosure. El Diablo and Sketch restaurants are the two prized high class restaurants of the Denver restaurateur Jesse Morreale. the subject of a foreclosure filing with the date set for the property scheduled to go to auction on Jan. 3, has been filed at the Denver Public Trustee’s office. Morreale said he is “in the process of resolving” the foreclosure. Regardless of the foreclosure threat, the restaurants will operate without any incontinence, according to the bleak eyed restaurateur. Foreclosure documents filed on the Broadway building show that Morreale Hotels LLC owes $2.02 million from an original loan of $3.78 million issued in 2008.
With too much on stake and lot of confusion regarding the loans, he said that loans have been changed many times and that the entire problem has originated from the Federal Deposit Insurance Corp while he clearly declined to comment on the bankruptcy accounts.
Shalini Singh,
Gujarat National Law University,
Gandhinagar, Gujarat
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