Chicago Building Owner Sues Buchanan For $34M Note Deal

Law360, Chicago (August 30, 2011, 2:45 PM EDT) -- Fulcrum Dearborn LLC sued Buchanan Street Partners LP in Illinois on Monday alleging the real estate finance firm stole its plan to buy back $34 million worth of Fulcrum mortgage notes in the wake of the housing market collapse.

In its state court complaint, the plaintiff claims that the "back-stabbing finance company" used confidential information Fulcrum provided as a client seeking financing for its note buy-back plan to cut its own deal with First American Bank, the bank holding mortgage notes for a Chicago building that...
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