Lehman hopes to auction off Ritz-Carlton Kapalua

Lehman Bros. plans to auction off the Ritz-Carlton Kapalua in Hawaii in May. The investment bank is owed $268 million on the property, after the Maui hotel struggled to repay loans taken out for a 2008 renovation. A new owner could resume efforts to sell condos or restructure the property's operating plan. Honolulu Star-Advertiser