Investors Want Ill. Project Owners To 'Start Telling The Truth'

Law360 (April 7, 2020, 6:42 PM EDT) -- Chinese investors said Monday that the only way they'll learn what happened to $49.5 million they poured into a failed Chicago real estate project is if an Illinois federal judge sanctions the project owners until they finally fess up.

Negative inferences should be drawn from the project owners' failure to meet a firm April 3 deadline to chronologically prove how $49.5 million for the failed riverfront tower project flowed through them to other businesses, the investors argued. It's a stiff penalty, but after that lapse and a host of other discovery failures, "the only thing that this court can do is...

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