Texas REIT Scares Developer Out Of $75M Loan Fight

Law360, New York (April 3, 2012, 6:52 PM EDT) -- Developer Miller Sheridan LLC on Tuesday backed down from a court battle with real estate investment trust Weingarten Realty Investors, withdrawing its motion to intervene in WRI's attempt to hold the developer's CEO personally liable for a $75 million project loan.

Miller Sheridan said it will pursue arbitration to settle its indemnification claims, which seek to put WRI on the hook for the same loan liability — related to a failed shopping center — that launched the lawsuit. The move follows oral arguments on March 20...
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