Developer, PE Firm Spar Over $42M Remediation Loan

Law360, New York (January 31, 2012, 6:50 PM EST) -- A property developer and a private equity firm blamed each other Monday for failing to live up to each other's obligations from a $42 million loan to clean up an environmentally contaminated property north of San Francisco.

The complaint involves a contaminated 86-acre waterfront property that was used by various chemical manufacturers in Richmond, Calif. The lender, affiliated with former real estate development firm Continental Environmental Redevelopment Financial LLC, said the loan guarantors, affiliates of private equity firm Cherokee Investment Partners, borrowed too much. Cherokee countered...
To view the full article, register now.




Case Information

Case Title

CERF SPV I, LLC v. Cherokee Investment Partners III, L.P.

Case Number



California Eastern

Nature of Suit

Contract: Other


Lawrence K. Karlton

Date Filed

September 29, 2010

Law Firms

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.