GE OK'd To Foreclose On $36M Manhattan Building Loan

Law360, New York (November 18, 2011, 6:45 PM EST) -- A New York state judge on Friday granted lender GE Business Financial Services Inc. permission to go ahead with a foreclosure against borrowers of $35.9 million in financing to buy and then renovate a Manhattan apartment building.

Judge Saliann Scarpulla granted GE Business, formerly Merrill Lynch Capital, summary judgment for foreclosure claims on borrowers looking to renovate and rent out a 16-story residential apartment on the city's Upper West Side.

The court will now appoint a referee to decide how much the borrowers, which are named as 166 West 75th Street...
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.