Lehman Sues Katten Over Bungled Hotel Loan Docs

Law360, New York (December 1, 2011, 6:04 PM EST) -- Lehman Brothers Holding Inc. hit Katten Muchin Rosenman LLP with a lawsuit Wednesday for allegedly failing to file proper paperwork related to Lehman's $14.6 million loan to a developer to buy and renovate an upstate New York hotel.

The lawsuit, lodged in New York state court, says the firm didn't file the required contract with the county clerk when Lehman made the loan to developer Genwood Strathallan LLC. Because of the oversight, Lehman's claim was subordinated to a mechanics liens when Genwood defaulted on the loan...
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.