New Orleans Hotel Agrees to Pay up to $7.7 Million to Guests, Employees

NEW ORLEANS - Tentative settlements worth $7.7 million have been reached in lawsuits between the former owners of a Canal Street hotel and its guests and employees, according to notices being sent to prospective claimants. Powell v. Credit Suisse First Boston Mortgage Capital LLC, et al., No. 2004-11069 and Brown v. Credit Suisse First Boston Corp., et al., No. 2002-13738 (La. Dist. Ct., Parish of Orleans).

Separate agreements provide up to $5 million for former employees who worked at the hotel between 1995 and its closure in 2002, and $2.7 million for guests of the 'Crescent on Canal' hotel between …