Real Estate/Development
Apr. 17, 2012
Court tosses $42 million judgment in novel real estate spat
In a case that could lead commercial real estate lawyers to take a harder look at lease terms, a state appellate court reversed a $42 million judgment for a lender whose borrower defaulted on a loan after a tenant went out of business.
Daily Journal Staff Writer
In a case that could lead commercial real estate lawyers to take a harder look at lease provisions, a state appellate court reversed a $42 million judgment for a lender whose borrower defaulted on a loan after the building tenant went out of business and stopped paying the lease.
The 2nd District Court of Appeal found that although tenant Washington Mutual Savings and Loan stopped paying...
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