Missouri State University and the city of Springfield have voiced concerns about the terms of a New York Investment firm’s takeover of Springfield-based John Q. Hammons Hotels & Resorts in a bankruptcy settlement.
The university filed a lengthy objection to the agreement, saying it’s worried the settlement will not pay all the money owed to creditors like the university.
The city has raised issue with language describing ownership of Hammons Field.
A judge approved a settlement agreement last week stipulating that the company sell its remaining 35 hotels and other assets — including Springfield’s Hammons Tower and Hammons Field — to JD Holdings, a New York investment firm.
Read more: Springfield News-Leader