Where will The Bank of Mom and Dad go if they can't refinance due to overly tight lending standards or if tapping their savings is no longer an option?
The complaint says the Whitehouse and W. H., whose three hotels are struggling financially, may not be able to meet their "substantial debt" refinancing payments due to banks by the end of this year if the new J. W. Marriott hotel takes away any of their business.
Many teams have been refinancing debt due to the historically low interest rates.
Revenues from its North American retail operations plunged by 26%, thanks in part to an abrupt drop in the refinancing of mortgages due to rising interest rates.
JPMorgan Chase and UBS came through as lead banks for a syndicate on the bank debt portion of the refinancing due in May.
United's adjusted profit was down to £3.1million from £28.7million, and gross debt increased to £411million from £341million a year ago - partly due to refinancing old bonds and partly due to exchange rate changes with the dollar.
But advertising group WPP has slipped 9.5p to 409.5p after analysts at Exane BNP Paribas suggested the company could seek new funds to help refinance a £650m loan due to mature in 2010.
But Republicans and the White House warned that Congressional meddling with mortgage markets would make it harder for borrowers to refinance loans that are due to reset at higher interest rates, and make it almost impossible for poor people to get loans.
With the costs of refinancing those loans now soaring due to the breakdown in trust in the international banking system and the 30% plunge in the South Korean currency, the won, this year against the dollar, doubts had grown as to whether they could raise the necessary greenbacks to repay them.
