The owner of the Hilton Pittsburgh filed for bankruptcy this morning, in essence blocking its lender from foreclosing on the Downtown hotel for the time being.

Shubh Hotels Pittsburgh filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Pittsburgh, estimating $50 million to $100 million in liabilities and 100 to 199 creditors.

The move comes three days after lender BlackRock Financial Management Inc. filed a complaint in Allegheny County Common Pleas Court to foreclose against Shubh and CEO Atul Bisaria.

In the complaint, BlackRock sought the sale of the prominent Downtown hotel and a judgment of $49.6 million against Shubh, the amount of the mortgage.

The bankruptcy filing stays the foreclosure and also halts a move to appoint a receiver to oversee operations at the hotel.

Shubh attorney Jonathan Kamin said the bankruptcy filing would give the hotel ownership time to restructure the property and restructure its obligations.

BlackRock sought to foreclose after Hilton Hotels and Resorts terminated its franchise license agreement with Shubh, stripping the hotel of the Hilton name.

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