Five Star, IStar Can't Quell Feud Over $112M Ritz Carlton Loan

Law360, New York (March 27, 2012, 12:38 PM EDT) -- A New York federal judge on Monday threw out dueling motions to dismiss a suit and countersuit between Five Star Development Resort Communities LLC and iStar RC Paradise Valley, which are fighting over a $112 million development loan agreement for an Arizona Ritz Carlton project.

Each party had tried to get the other's claims tossed, but U.S. District Judge Laura Taylor Swain denied both motions in their entirety. In seeking protection from a declaration of default on the loan, FiveStar had lobbed a breach of contract...
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