CAPX Realty Sues Developer Over Golf Course Lease

Law360, New York (December 2, 2009, 12:44 PM EST) -- California-based CAPX Realty LLC is suing a Texas developer over alleged violations of its lease agreement for a golf course following the default of a $9 million promissory note tied to a leasehold for the property.

CAPX filed a complaint on Monday in U.S. District Court for the Eastern District of Texas against Castle Hill Development Corp., asking the court to declare it is not in default under its lease agreement and that, in fact, Castle Hill has breached its contract.

Since 1997, CAPX has leased...
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