FCCD Interfered With $65M Loan To Hotel: State Street

By Pete Brush

Law360, New York (March 16, 2010, 4:09 PM ET) -- State Street Bank and Trust Co. has filed an answer and counterclaims in a contract suit brought by FCCD Ltd., accusing the Irish financial services firm of unfairly seeking to “usurp” its rights in a battle over a troubled $65 million Mexico real estate development loan.

The answer to the lawsuit, filed Monday in the U.S. District Court for the Southern District of New York, said that the plaintiff's repeated interactions with the borrower, Logan Hotels and Resorts, Mexico SA de CV, has injured the bank....
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