Dallas Office Tower Seeks Receiver To Stop Foreclosure

Law360, Dallas (November 20, 2012, 8:04 PM EST) -- In an attempt to avoid foreclosure for an 18-story Dallas office building, a trust that holds the mortgage on the building asked a Texas state court Tuesday to appoint a receiver to manage the building while looking for a new buyer.

U.S. Bank NA, trustee for a Wachovia Bank commercial mortgage trust, said while it has the ability to foreclose out of court on the 360,000-square foot building, at 3500 Maple Ave. in the Uptown neighborhood, that option doesn’t make sense because outstanding debt on the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.