NY Judge Tosses Suit To Block $150M Casino Loan Buy

Law360, New York (August 15, 2012, 10:40 PM EDT) -- A New York state judge on Monday tossed a suit by a group of investors challenging a junior lender's attempt to buy a $150 million senior loan tied to a Las Vegas casino and resort.

The investors, led by Cedarwoods CRE CDO II Ltd., claim Galante Holdings Inc., which holds a $10 million loan on a JW Marriott hotel and resort in Summerlin, Nev., improperly tried to buy the senior loan at a discount of more than $60 million.

But citing a state appeals court June...
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