Lender Drops NY Suit Over Jameson Inns Foreclosure Sale

Law360, New York (January 13, 2012, 4:03 PM EST) -- A judge on Thursday signed off on a voluntary dismissal of a junior mezzanine lender's suit against an affiliate of private equity firm JER Partners, related to JER's foreclosure sale of properties tied to bankrupt lodging chain Jameson Inns Inc.

After denying the injunction earlier this month and allowing the sale of the properties to private real estate investment firm Colony Capital LLC on Monday, U.S. District Judge Katherine B. Forrest oversaw the dismissal of Gramercy Warehouse Funding I LLC's suit against JER Financial Products III...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.