Casden Wins In Merger Loan Suit Lobbed By Cerberus Unit

Law360, New York (June 21, 2013, 7:41 PM EDT) -- Casden Properties' CEO prevailed Thursday when a New York federal judge ruled he was not on the hook for an allegedly defaulted loan that a Cerberus Partners LP unit had crafted to allow for a side stake deal in a southern California residential building venture.

Judge Katherine B. Forrest ruled that Alan I. Casden had not breached a contract signed with Cerberus unit Madeleine LLC 10 years ago for a $25 million loan. Madeleine had been seeking to foreclose the loan and get a judgment giving...
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