Judge Won't Block $74M In Condo Sales For Mogul Swig

Law360, New York (June 27, 2012, 7:43 PM EDT) -- A New York state judge on Tuesday refused to block proceeds from $74 million in condominium sales from going to real estate mogul Kent Swig, finding that Swig's partners in a joint venture failed to show evidence of irreparable harm from his control of revenue payments.

Real estate developers including Serge Hoyda who had teamed with Swig on a joint venture to convert rental units to condos in an 845-unit Manhattan residential tower claimed that Swig — as the managing member of the joint venture —...
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