Related, Deutsche Bank Sued Over Moinian’s NYC Tower
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Stephen Ross’s Related Cos. and Deutsche Bank AG were accused in a lawsuit of conspiring with lenders to “steal” a potentially valuable midtown Manhattan property from its underfinanced owner.
The defendants -- which also include Bank of America Corp. and CWCapital Asset Management LLC -- engaged in a “long-lived predatory lending scheme,” according to a 34-page complaint filed yesterday in New York State Supreme Court by developer Joseph Moinian. He is seeking at least $200 million in damages for breach of loan documents and “tortious interference” in his contractual rights.