Bankrupt NJ Developer Sues Partner Over 'Invalid' Deed

Law360, New York (May 10, 2012, 6:10 PM EDT) -- Bankrupt New Jersey real estate development group Liberty Harbor Holding LLC hit a former business partner with an adversary suit Thursday, claiming a deed the partner purports to hold on a joint development is not valid.

Liberty Harbor, which filed for Chapter 11 bankruptcy protection in April, says SWJ Holdings LLC improperly assumed 100 percent of ownership of the 19-acre Liberty Harbor development site in Jersey City in 2006.

According to the complaint, SWJ had no right to assume more than 50 percent ownership and only...
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