Judge Keeps Counterclaims In Five Star $112M Hotel Loan Suit

Law360, New York (June 29, 2012, 6:04 PM EDT) -- A New York federal judge refused Friday to stay counterclaims that lender iStar RC Paradise Valley brought against Five Star Development Resort Communities LLC in a contract suit over a $112 million loan to develop an Arizona hotel, saying a stay wouldn't be efficient.

It makes sense to hear breach of contact counterclaims against Five Star, the plaintiff in the suit, at the same time as the rest of the case, U.S. District Judge Laura Taylor Swain said at a hearing in Manhattan.

“I will not...
To view the full article, register now.