In Atlas MF Mezzanine Borrower, LLC v. Macquarie Texas Loan Holder LLC, 2019 NY Slip Op 04495, decided June 6, 2019, the Appellate Division, First Department, dismissed causes of action seeking an Order overturning a mezzanine loan foreclosure sale, on grounds including claims that the lender breached the duty of good faith and fair dealing by not...
The Plaintiff sought a ruling that the sale of equity interests in eleven commercial properties, which interests were pledged as collateral for a mezzanine loan, was commercially unreasonable because the auction sale was not conducted in a commercially reasonable manner as required by Section 9-610 (“Disposition of collateral after default”) of...
Topics: Commercial Real Estate UCC mezzanine loan
A loan for real estate projects in Kansas City and Cincinnati was secured by a mortgage on the land being developed and by the pledge of the membership interests in the borrower. The lenders commenced a UCC foreclosure sale of the membership interests.
Topics: equity of redemption mezzanine loan