Lincoln Financial Unit Wins $29M In Housing Loan Suit
Law360, New York (January 18, 2012, 9:51 PM EST) -- An Illinois federal judge ruled Wednesday that Lincoln Financial unit Jefferson-Pilot Investments Inc. is entitled to recover nearly $29 million from Sunset Village LP to satisfy a defaulted loan agreement for a housing development.
“Sunset Village does not dispute that Jefferson-Pilot is entitled to summary judgment on its two claims related to the mortgages. Accordingly, the court grants summary judgment on those claims,” U.S. District Judge Matthew F. Kennelly said.
The judge also granted Jefferson-Pilot's request to foreclose on and order a judicial sale of the mortgage property.
Jefferson-Pilot originally sued Capital First Realty Inc., the guarantors of Sunset Village's notes,...
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