Whole Foods Store Developers Spar Over $5M Guaranty

Law360, New York (January 18, 2012, 8:26 PM EST) -- An attorney for an investor group told a New York state judge Wednesday that a real estate developer owes investors $5.17 million under a guaranty tied to the development of two Whole Foods Market Inc. stores in California.

Real estate developer Gordon K. Ekstrand claims the guaranty to reimburse Torreonbridge National Investments LLC's $5.17 million investment in a Whole Foods in Malibu, Calif., has been wiped out. Ekstrand and TNI had previously developed a Whole Foods in Pasadena, Calif., together, and the guaranty Ekstrand signed for...
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