$367M Calif. Tower Deal Tripped Up By Financial Claims

Law360, New York (April 22, 2013, 3:23 PM EDT) -- Two individuals contending to own security interests in California's U.S. Bank Tower under the Uniform Commercial Code are allegedly making wrongful claims that could hold up the property's $367 million sale, according to a suit filed Thursday in state court.

Library Square Associates LLC, which owns the high-rise formerly known as Library Tower, contends that Mumina Abdur Rahman and Moye Wicks III — residents of California and Texas, respectively — have wrongfully filed several UCC-1 claims with the state for  financial interests in the property that...
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