Appeals Court Backs BofA's $206M Win In Chicago Loan Row

Law360, New York (January 2, 2013, 7:36 PM EST) -- The Illinois state appeals court on Friday affirmed Bank of America NA's $206.7 million win in a suit foreclosing a construction loan for an upscale Chicago retail complex, ruling that the developer had triggered the full award by contesting receivership.

A three-judge panel backed up a lower court's decision that Laurance H. Freed and DDL LLC owed the bank the full $205 million loan amount, plus costs and interest, rather than the original $50 million guaranty because the contest and resulting legal war violated a carve-out...
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