Wachovia Mortgage Holders Sue Realty Firm For $164.5M

Law360, New York (November 21, 2011, 8:33 PM EST) -- Holders of commercial mortgage loans issued by a Wachovia Corp. entity on Friday sued BRCP Realty II LP in New York state for a total of $164.5 million for not paying back the financing and misusing property income.

CWCapital Asset Management LLC, acting as servicer for U.S. Bank National Association, is suing the realtor for not paying the principal on a loan totaling $175.5 million, along with at least $6 million in misused property income, according to a complaint filed in New York Supreme Court in New York...
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