Apt. Owner Drops $36M Loan Suit Against US Bank, Servicer

Law360, New York (January 31, 2013, 5:51 PM EST) -- The owner of a 516-unit Philadelphia apartment complex on Tuesday dropped its suit against U.S. Bank NA and C-III Asset Management LLC over the companies' alleged refusal to renegotiate the terms of a $36 million loan that was headed for default.

Brookside St. Ives LLC, which owns the apartment complex, asked the court to mark the litigation as discontinued with prejudice, but did not provide any reasoning for the suit's termination. An attorney for the defendants declined to comment, and attorneys for Brookside St. Ives did not...
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