High Line Residential Developer Sued Over $10M Default

Law360, New York (November 10, 2011, 3:01 PM EST) -- A development company for a residential property overlooking New York's High Line Park has defaulted on a $10.1 million loan, its creditor alleged in New York court Nov. 7.

NY Credit Funding I LLC filed suit asking to foreclose on the lot at 551 West 29th St., which overlooks the High Line.

The developer, High Line Group LLC, took out a two-year loan with NY Credit in June 2007 that among other things gave the creditor a priority mortgaged lien to the property, according to the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.