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Lender Liability Claims Successfully Defended

  • Client: Private bridge lender
  • Date: Jan 14, 2010
  • Location: Chicago, Illinois

Summary:

Schiff Hardin represented a private bridge lender in connection with the foreclosure of a mortgage on Chicago real estate. The lender learned of lender liability claims brought by an attorney who was a seller, counsel for other sellers of the mortgaged real estate to the borrower, and who claimed to have secretly acquired an interest in the borrower, as well as another entity holding an unrecorded lease.

This representation included disqualifying the attorney as counsel in the case, and filing suit against the attorney personally for fraud and negligent misrepresentation in various closing documents, and for specific performance and damages relating to the breach of a subordination agreement the attorney signed in connection with the seller's carry-back note and mortgage.
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