Citing an impasse over the renegotiation of...
Citing an impasse over the renegotiation of a $95-million loan with Security Pacific National Bank, owners of the Centroplex commercial development near Los Angeles International Airport filed for Chapter 11 federal bankruptcy protection. Century Centre Partners Ltd. owns the 750,000-square-foot development that includes an office building, the Galleria shopping mall, an airport parking facility and the 1,279-room LAX Hilton Hotel. In July, the bank served notice that the property would be foreclosed on, a move set for today. Spokesmen for Centroplex and LAX Hilton said operations will continue while the Century Centre reorganizes.
