NY Court To Hear Arguments Over Midtown Tower Deal

Law360, New York (October 17, 2011, 6:09 PM EDT) -- A New York appeals court will hear arguments Wednesday over whether the credit crisis is a legitimate reason for real estate developer RFR Holding LLC not to pay lenders more than $180 million to develop a 60-story midtown Manhattan hotel tower.

An affiliate of ING Groep NV and Swedbank AB, New York branch, say they've given more than $133 million to affiliates of RFR and others to develop 610 Lexington Ave. in midtown Manhattan into a 60-story, Norman Foster-designed hotel. But RFR and its affiliates say...
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