El Palacio Hotel owners in bankruptcy

The owners of Miami Gardens’ El Palacio hotel have filed for Chapter 11
bankruptcy protection, according to a petition filed July 21 for Gerald
Ross and his wife Frances. The hotel, which is a former Holiday Inn
purchased in 2004, is not itself in bankruptcy. The Rosses claim between
$10 million and $50 million in debt. They are being represented by
Berger Singerman’s Art Spector. El Palacio is located near the Calder
Race Course. [SFBJ]