Law360, New York (January 18, 2012, 3:10 PM ET) -- A participant in the securitization of a $130 million mortgage loan for a group of hotels in several states asked a New York state judge Tuesday to rule that another participant had improperly taken control of the loan and to return $15.6 million in unnecessary collateral.
FMC Real Estate CDO 2005-1 Ltd. claims Crexus S Holdings LLC falsely claimed that it should replace FMC as the controlling participant in the loan based on several improper appraisals it had conducted after the hotel developer W2001 Eastern Hotel...
CDO Holder Wrongly Took Over $130M Loan: Suit
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