Minor Family Hotels, owner of the Landmark Hotel project in downtown Charlottesville, has filed for bankruptcy.

CEO Halsey Minor says the Chapter 11 filing will not shut down the project, which has been stalled for well over a year. Minor says the move will allow him to get the hotel project back on track and moving toward completion, and insists he will see the construction through.

There have been multiple financial uncertainties surrounding the hotel including defaulted loans and multiple legal battles.

In July Minor was awarded more than $6 million from the developing entity Hotel Charlottesville, LLC in an arbitration ruling.

In May Minor and his wife were listed as California's biggest tax delinquents, owing the state more than $13 million.

Reported By NBC29 HD News