Fla. Lender In $9M Deal Says Atty Diluted Its Share

Law360, Miami (October 4, 2013, 5:55 PM EDT) -- A Florida-based lender sued its former counsel in state court Wednesday for allegedly representing it and a borrower in an $8.9 million loan transaction, claiming the dual representation later diluted the lender's share in a sale of the property that had been bought with the loan.

In a complaint filed in Miami, Florida lender AHIFO-4 LLC, created by Ambit Funding Advisor I LLC, said Steven Carlyle Cronig and his defunct firm Baker Cronig & Gassenheimer LLP should not have represented AHIFO and MAMC Inc., which controlled...
To view the full article, register now.