NY Court Upholds BofA Win In $200M Building Loan Fight

Law360, New York (January 10, 2013, 9:51 PM EST) -- The former owner of a midtown Manhattan office tower lost his appeal Thursday in New York State court in a case in which he accused Bank of America Corp., CWCapital Asset Management LLC and others of conspiring with developer The Related Cos. LP to maneuver the foreclosure and takeover of his building.

Joseph Moinian and his company, Devash LLC, originally sought more than $200 million in damages representing lost rents, funds unnecessarily spent and lost value to the 26-story building, 3 Columbus Circle. He previously settled...
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