Americana Hotels and Reality Announces Sale of Final Asset, Sixth Liquidating Distribution, Final Program of Liquidation.BOSTON--(BUSINESS WIRE)--May 18, 1998--Americana Hotels and Realty Corp. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. -- "AHTC AHTC Akademischer Hockey Und Tennis Club ") today announced the sale of its last investment, the Canyon Hotel property in Palm Springs, Calif., for $8,000,000. George H. Bigelow, president of the corporation, stated that the board of directors will be meeting shortly to declare a liquidating distribution and to discuss its final objective, a short-term plan to merge or sell the corporate shell, or failing that, to complete the Plan of Liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy . Americana Hotels and Realty Corp. is a real estate investment trust formerly listed on the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. . CONTACT: Americana Hotels Corp. Sharon A. Zuk, 617/247-3358 |
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