Macquarie, KKR $100M Auction-Rigging Claims Advance

Law360, New York (April 11, 2018, 3:54 PM EDT) -- A New York state judge ruled that a real estate investor could move forward with its allegations that investment bank Macquarie conspired with asset manager KKR & Co. LP to rig an auction for apartment buildings worth $100 million, rejecting efforts to dismiss the case at a contentious hearing Wednesday.

A unit of Atlas Apartment Holdings LLC said that it bought 11 financially troubled Texas apartment blocks worth a net $100 million in 2013 with help from a $71 million loan from Macquarie. The borrower claims that last year, however, Macquarie turned hostile and threw together a sham auction that was...

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