$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...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.