US Bank's $100M Suit Over Extended Stay Loan Revived

Law360, New York (February 14, 2013, 5:56 PM EST) -- A New York appeals court on Thursday restored U.S. Bank NA's claims against Lightstone Holdings LLC over a $100 million guaranty the real estate company allegedly owes in connection with a $4.1 billion loan contract for its purchase of formerly bankrupt Extended Stay Hotels LLC.

The lower court had ruled in September 2011 that the junior lenders, not U.S. Bank, were entitled to the guaranty based on the language of the intercreditor agreement, but the appeals court found that the language was not clear as to...
To view the full article, register now.