Philly Developers Spar Over Loan Agreement In $37M RE Row

Law360, Philadelphia (September 9, 2013, 4:08 PM EDT) -- A real estate developer asked a Pennsylvania state court Monday to open a $37 million confession of judgment against him in a dispute with a rival, arguing that the relationship between the two parties would be properly addressed through a previously filed fraud suit.

Developer Eric Blumenfeld said that Ronald Caplan — who Blumenfeld claims agreed to partner with him to manage Blumenfeld's luxury PMC Marine Club Associates LP condominium complex in South Philadelphia — was not acting as a lender when he agreed to acquire...
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.