CWCapital Fires Back At Junior Lenders' Stuy Town Title Suit
Law360, New York (August 19, 2014, 1:49 PM EDT) -- CWCapital Asset Management LLC asked a New York federal judge Monday to toss a suit alleging it bilked junior lenders controlled by Centerbridge Partners LP when it took control of Stuyvesant Town-Peter Cooper Village, saying the plaintiffs are shadily challenging CWCapital's title in an effort to score a $1 billion profit.
In a brief supporting their motion to dismiss, CWCapital and affiliates of Wachovia said the plaintiffs — junior lenders identified only by names such as PCVST Mezzco 4 LLC, but controlled by Centerbridge Partners — had nothing to do with the original $5.4 billion financing for Stuyvesant Town-Peter Cooper Village...
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