Oaktree Challenge To Developer's Alleged Island Buy Survives

Law360, New York (October 31, 2013, 2:40 PM EDT) -- A New York state judge refused Thursday to dismiss an Oaktree Capital Management LLC unit's lawsuit over the purchase of an island allegedly for a developer to avoid a $52 million judgment from a defaulted hotel loan in favor of a Bahamian proceeding, saying that the two cases are distinct.

Judge Charles E. Ramos said that while Oaktree unit Hotel 71 Mezz Lender LLC's and receiver Steven Weiss' action in New York state court was over allegations that hotel developer Guy Mitchell was trying to avoid...
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