Eaglebank Lien Ruled Senior In Minor League Team Spat

Law360, New York (July 7, 2015, 10:27 PM EDT) -- An Eagle Bancorp Inc. unit’s security interest in a $1.25 million deposit put down in a failed attempt to buy a defunct minor league baseball team trumps another lender’s competing lien on the funds, a Pennsylvania federal judge ruled Monday.

Eaglebank, which loaned $3.25 million to finance Virginia Investment Partnership LLC’s ill-fated bid for BR Professional Sports Group Inc.’s stake in the Atlantic City Surf franchise in New Jersey, pushed past rival creditor Robert Van Hoecke in its suit seeking to recover the $1.25 million deposit...
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.