Solow Should Repay $86M Loan To Citigroup: Court

Law360, New York (March 26, 2010, 3:01 PM EDT) -- In a boost to Citigroup Inc., a New York state judge has said he plans to order billionaire real estate mogul Sheldon H. Solow to fork over $85.7 million the bank claims it is owed under two outstanding lines of credit intended to fund a massive development project in Manhattan.

At a hearing Thursday, Justice Bernard J. Fried of the New York State Supreme Court in Manhattan said he intended to grant Citigroup's motion for summary judgment, paving the way for the financial giant to recover...
To view the full article, register now.