Bankrupt Lender, Developers Settle $36M Loan Fight

Law360, New York (May 24, 2013, 7:18 PM ET) -- The loan manager of bankrupt Mortgages Ltd. reached a $43 million settlement with shopping mall developer PDG Los Arcos LLC and others on Thursday, resolving its claims that the developers defaulted on $36 million in construction loans.

ML Manager LLC asked an Arizona bankruptcy court to greenlight the deal, which resolves claims arising out of a $26 million loan Mortgages Ltd. provided to PDG and a loan of more than $10 million given to National Retail Development Partners I LLC in 2007.

The settlement includes a...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

Mortgages Ltd.


Case Number

2:08-bk-07465

Court

Arizona

Nature of Suit

Date Filed

June 20, 2008

Law Firms