Judge Says Cabot Unit Must Pay $51M To BofA

Law360, New York (March 19, 2012, 2:28 PM EDT) -- Bank of America NA on Friday won summary judgment in its foreclosure suit against several units of real estate investment company Cabot Investment Properties LLC over $51.2 million owed on a loan for a 1 million-square-foot shopping mall in Ohio.

U.S. District Judge Donald C. Nugent ruled that Bank of America, successor in interest to the original $40 million loan, was entitled to summary judgment as a matter of law because it had succeeded in establishing that it delivered and currently held the note and mortgage,...
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