Lehman Must Pay For Meadowlands Loan Snafu, Investor Says

Law360, New York (April 23, 2013, 6:44 PM EDT) -- A Lehman Brothers Holdings Corp. affiliate made a real estate investor lose its equity stake in a billion-dollar loan for a shopping complex in New Jersey's Meadowlands when the investment bank collapsed and stopped making payments, an attorney told a New York state judge Tuesday in arguing to add claims for damages.

A real estate investment entity known as ERC 16W LP was forced to foreclose on the project after Lehman went belly up in 2008 and then missed mezzanine loan payments, ERC attorney Sheron Korpus...
To view the full article, register now.