LNR, US Bank Beat Bid To Block $335M Loan Foreclosure

Law360, New York (November 28, 2012, 7:58 PM EST) -- A New York state judge declined Wednesday to grant a property investment company's request to block U.S. Bank NA and LNR Partners LLC from foreclosing a $335 million loan over allegations that LNR's ties to Lennar Corp. breached an agreement.

Judge O. Peter Sherwood ruled from the bench that Empire Group Holdings LLC had failed to prove it would be irreparably harmed if the foreclosure continues or that it is likely to succeed in the case, which spins on whether LNR qualifies as a Lennar affiliate....
To view the full article, register now.