BofA Must Seek $18M From Real Estate Mogul In NY Court

Law360, New York (March 15, 2012, 1:45 PM EDT) -- A New York federal judge on Wednesday dismissed Bank of America NA's suit against a real estate mogul and his wife over $17.6 million in defaulted-on loans for their Upper East Side apartment, directing the bank to pursue its claims as part of the couple's state court divorce proceedings.

Bank of America brought the action against Kent and Elizabeth Swig in Manhattan federal court in June, seeking to collect collateral for the defaulted-on loans in the form of a lien against their co-op apartment at 740...
To view the full article, register now.