Law360, New York (July 02, 2012, 5:18 PM ET) -- An Alabama state judge on Friday dismissed Regions Financial Corp. from a lawsuit accusing the bank of conspiring with a real estate investment trust to defraud its joint venture partner in connection with a $34 million loan for a Gulf Shores residential development.
SM Traditions Associates LLC, an entity created for investment in the planned apartment complex in a joint venture with Colonial Properties Trust Inc., argued that Regions purposely lent the companies more than the property was worth, conspiring to ultimately block SM out of...
Regions Bank Escapes Suit Over $34M RE Loan Default
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