This summary is reviewed by TRD Staff. Ron Burkle’s The Line LA hotel in Koreatown is facing a $100 million loan default. Corten Real Estate Partners, the lender, may put the property up for sale.

Now, Dan Loeb and his activist hedge fund Third Point are questioning a bid backed by fellow billionaire Ron Burkle to take the club private. Loeb unveiled a nearly 10% stake in the company in a ...