Manhattan’s Apthorp Sues Anglo Irish Bank Over Loan Sale
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Anglo Irish Bank Corp., the nationalized lender, was sued over the sale of a loan tied to the condominium conversion of the landmark Apthorp building on Manhattan’s Upper West Side.
Anglo Irish, which is selling a $9.7 billion portfolio of U.S. real estate loans, must maintain at least a 51 percent interest in the $385 million loan, Apthorp Associates LLC said in a complaint filed today in New York state court in Manhattan. Apthorp is the sponsor of the condo conversion of the building, according to the complaint.