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Commercial Mortgage Litigation First-Quarter 2010 Mortgage Litigation Index

Commercial Mortgage Litigation
First-Quarter 2010 Mortgage Litigation Index
Cases related to commercial mortgage lending.

Defendant
Plaintiff
Court
Amount
Overview
Case Title
Case Number
Date Filed Link to Story
The Senator, LLC Hoss Mortgage Investors, Inc. Washington Court of Appeals na The court reversed a lower court grant of summary judgment in favor of Senator. Senator sought loans from Hoss backed by three commercial properties owned by Senator. Upon failing to find investors to purchase securities backed by one of the three properties, Hoss did not fully fund the loans and Senator refused to perform under the Agreement in the absence of full funding of Hoss loan. Hoss Mortgage Investors, Inc. v. Senator LLC No. 37960-1-II March 1, 2010 www.mortgagedaily.com/LitigationCommitments032910.asp
na Capmark Investments LP U.S. Bankruptcy Court for the District of Delaware na Capmark filed a petition for Chapter 11 bankruptcy. In re Capmark Investments LP 10-10124 January 15, 2010 www.mortgagedaily.com/LitigationBankruptcty011810.asp
na Extended Stay Inc. U.S. Bankruptcy Court for the Southern District of New York $4,100,000,000 Plan submitted that discussed how 21 of its 75 entities are saddled with a $4.1 billion mortgage debt secured by cross-collateralized and cross-defaulted first priority liens on mortgage properties. In Re: Extended Stay Inc. Case No. 09-13764-jmp June 15, 2009 www.mortgagedaily.com/LitigationBankruptcy032210.asp
David Young Park State of Maryland Baltimore County Circuit Court na Defendant was sentenced to 18 months in prison and ordered to pay $116,556 in restitution for stealing the loan proceeds from a refinance transaction on a commercial condominium. United States v. Park na December 8, 2009 www.mortgagedaily.com/LitigationCrimes020910.asp

 

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