Pershing, Winthrop Oppose Bar to Stuyvesant Auction
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Pershing Square Capital Management LP and Winthrop Realty Trust said they have the right to proceed with their planned foreclosure auction for Manhattan’s Stuyvesant Town-Peter Cooper Village apartment complex.
An agreement between groups of creditors doesn’t prohibit Pershing and Winthrop’s plan from taking control of the property through a foreclosure auction as senior mortgage holders argue, the companies said today in court papers in New York.