Fund's Suit Against Mission Capital, Comerica Dumped

Law360, New York (September 20, 2011, 4:23 PM EDT) -- Citing jurisdictional grounds, an Arizona federal judge on Monday threw out a breach of contract suit brought by a Maricopa County real estate fund against Mission Capital Advisors LLC and Comerica Bank over a $34 million commercial loan portfolio.

Arcus Equity II LLC, which said it might refile the complaint, sued in July seeking $4.8 million in damages after it agreed to buy a portfolio called Bee Canyon LLC in a deal with the bank and the Florida-based debt placement firm, according to the suit. The...
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