The owner of the former Hilton Pittsburgh is facing foreclosure.

Lender BlackRock Financial Management Inc. filed a complaint in Allegheny County Common Pleas Court today seeking to foreclose against hotel owner Shubh Hotels Pittsburgh LLC and principal Atul Bisaria.

In the complaint, BlackRock is asking a judge to order the sale of the hotel property at the entrance to Downtown and a judgment of $49.6 million, the amount of the loan to Shubh.

The move comes a day after Hilton Hotels & Resorts terminated its franchise license agreement with Shubh, stripping Pittsburgh's largest hotel of the prestigious Hilton name.

In its complaint, BlackRock stated that termination of the franchise license is an "event of default" under the loan agreement.

BlackRock also charged that Shubh has failed to abide by some of the conditions of a July 23 consent order issued by Common Pleas Judge Michael Della Vecchia, triggering additional defaults. Among them, it said, was failure to provide information necessary to complete an audit of the hotel books requested by the lender.

The complaint stated that preliminary findings of the audit indicated that the "borrower and/or guarantor have misappropriated hotel rents."

It added, "Mortgagor converted, misappropriated and/or misapplied hotel rents and revenues by directing funds required to be used for payment of cash expenses pursuant to the approved annual budget to an operating account maintained by the borrower for the payment of inappropriate fees and expenses not approved by lender pursuant to the approved annual budget."

Representatives for Shubh could not immediately be reached for comment.

Looking for more from the Post-Gazette? Join PG+, our members-only web site. You'll get exclusive sports content, opinion, financial information, discounts from retailers and restaurants, and more. Our introduction to PG+ gives you all the details.